Insteel Industries (NASDAQ:IIIN - Get Free Report) released its quarterly earnings data on Thursday. The industrial products company reported $0.78 EPS for the quarter, beating the consensus estimate 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%. During the same quarter in the prior year, the firm posted $0.34 earnings per share. Insteel Industries's revenue was up 23.4% compared to the same quarter last year.
Insteel Industries Stock Performance
Shares of IIIN traded up $0.05 during midday trading on Friday, hitting $36.13. 294,898 shares of the company traded hands, compared to its average volume of 147,733. The firm has a 50 day moving average of $36.64 and a 200-day moving average of $31.21. Insteel Industries has a 52 week low of $22.49 and a 52 week high of $41.64. The stock has a market cap of $701.32 million, a price-to-earnings ratio of 36.49, a PEG ratio of 1.81 and a beta of 0.72.
Insteel Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.33%. The ex-dividend date was Friday, June 13th. Insteel Industries's dividend payout ratio (DPR) is presently 10.34%.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in Insteel Industries stock. Dynamic Technology Lab Private Ltd bought a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,537 shares of the industrial products company's stock, valued at approximately $225,000. Institutional investors and hedge funds own 83.27% of the company's stock.
Insteel Industries Company Profile
(
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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.
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