Insteel Industries - IIIN Stock Forecast, Price & News

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. The company's WWR engineered reinforcing product is used in nonresidential and residential construction. It produces a range of WWR products, such as engineered structural mesh, an engineered made-to-order product that is used as the primary reinforcement for concrete elements or structures serving as a reinforcing solution for hot-rolled rebar; concrete pipe reinforcement, an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. The company sells its products through sales representatives to the manufacturers of concrete products, rebar fabricators, distributors, and contractors primarily in the United States, Canada, Mexico, and Central and South America. Insteel Industries, Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Insteel Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 30th.

Insteel Industries Trading Up 1.4 %

IIIN Stock opened at $30.09 on Tuesday. The stock has a market cap of $587.06 million, a PE ratio of 4.63 and a beta of 1.22. Insteel Industries has a 12 month low of $28.97 and a 12 month high of $47.70. The company has a 50-day moving average price of $35.79 and a 200 day moving average price of $38.02.

Insteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 24th. Investors of record on Friday, June 10th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, June 9th. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. Insteel Industries's dividend payout ratio (DPR) is presently 1.87%.

Insider Buying and Selling

In other news, VP Scot R. Jafroodi sold 1,088 shares of the company's stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $45.50, for a total value of $49,504.00. Following the sale, the vice president now directly owns 41,296 shares of the company's stock, valued at approximately $1,878,968. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Insteel Industries news, VP Scot R. Jafroodi sold 1,088 shares of the company's stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $45.50, for a total transaction of $49,504.00. Following the completion of the transaction, the vice president now directly owns 41,296 shares in the company, valued at $1,878,968. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Richard Wagner sold 10,576 shares of the company's stock in a transaction on Wednesday, May 18th. The stock was sold at an average price of $42.58, for a total transaction of $450,326.08. Following the transaction, the chief operating officer now owns 36,620 shares of the company's stock, valued at $1,559,279.60. The disclosure for this sale can be found here. Insiders sold a total of 12,164 shares of company stock worth $521,600 in the last 90 days. 5.20% of the stock is owned by corporate insiders.