Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report)'s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $35.23 and traded as high as $38.80. Insteel Industries shares last traded at $38.71, with a volume of 59,496 shares.
Insteel Industries Stock Up 1.5%
The stock has a market cap of $751.38 million, a P/E ratio of 39.10, a PEG ratio of 1.81 and a beta of 0.79. The firm's fifty day moving average price is $37.85 and its 200-day moving average price is $35.23.
Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its quarterly earnings results on Thursday, July 17th. The industrial products company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.09. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The company's revenue for the quarter was up 23.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.34 EPS. Sell-side analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.
Insteel Industries Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a $0.03 dividend. The ex-dividend date was Friday, September 12th. This represents a $0.12 annualized dividend and a yield of 0.3%. Insteel Industries's payout ratio is 7.50%.
Insiders Place Their Bets
In related news, SVP James R. York sold 3,000 shares of Insteel Industries stock in a transaction on Friday, August 22nd. The shares were sold at an average price of $38.50, for a total value of $115,500.00. Following the sale, the senior vice president owned 9,443 shares in the company, valued at $363,555.50. The trade was a 24.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.00% of the stock is currently owned by company insiders.
Institutional Trading of Insteel Industries
Large investors have recently added to or reduced their stakes in the stock. Mark Sheptoff Financial Planning LLC bought a new stake in Insteel Industries in the second quarter valued at $60,000. BNP Paribas Financial Markets boosted its holdings in shares of Insteel Industries by 74.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,248 shares of the industrial products company's stock valued at $84,000 after buying an additional 958 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of Insteel Industries by 30.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the industrial products company's stock valued at $95,000 after buying an additional 583 shares in the last quarter. Tower Research Capital LLC TRC boosted its holdings in shares of Insteel Industries by 372.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,283 shares of the industrial products company's stock valued at $122,000 after buying an additional 2,588 shares in the last quarter. Finally, CWM LLC boosted its holdings in shares of Insteel Industries by 150.9% during the 1st quarter. CWM LLC now owns 4,744 shares of the industrial products company's stock valued at $125,000 after buying an additional 2,853 shares in the last quarter. Institutional investors own 83.27% of the company's stock.
About Insteel Industries
(
Get Free Report)
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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