Insteel Industries (NASDAQ:IIIN) Announces Earnings Results

Insteel Industries (NASDAQ:IIIN - Get Free Report) issued its quarterly earnings results on Thursday. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.09, Briefing.com reports. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The firm's quarterly revenue was up 23.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.34 EPS.

Insteel Industries Trading Up 0.1%

Shares of NASDAQ:IIIN traded up $0.05 during midday trading on Friday, reaching $36.13. The company had a trading volume of 294,898 shares, compared to its average volume of 146,023. The stock has a market cap of $701.32 million, a P/E ratio of 36.49, a P/E/G ratio of 1.81 and a beta of 0.72. The company's 50 day moving average price is $36.65 and its 200 day moving average price is $31.33. Insteel Industries has a 52-week low of $22.49 and a 52-week high of $41.64.

Insteel Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were paid a $0.03 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.33%. Insteel Industries's payout ratio is 10.34%.

Institutional Investors Weigh In On Insteel Industries

An institutional investor recently raised its position in Insteel Industries stock. AQR Capital Management LLC raised its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 12.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 155,949 shares of the industrial products company's stock after purchasing an additional 17,168 shares during the period. AQR Capital Management LLC owned approximately 0.80% of Insteel Industries worth $4,101,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.