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.

Insteel Industries Trading Down 0.2 %

Shares of IIIN traded down $0.05 during mid-day trading on Tuesday, hitting $32.72. The company's stock had a trading volume of 1,073 shares, compared to its average volume of 194,440. Insteel Industries has a 1-year low of $28.97 and a 1-year high of $47.70. The firm has a market capitalization of $638.37 million, a P/E ratio of 5.08 and a beta of 1.22. The firm has a 50-day simple moving average of $34.67 and a 200 day simple moving average of $37.79.

Insteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given 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 0.37%. Insteel Industries's payout ratio is currently 1.87%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Insteel Industries from a "buy" rating to a "hold" rating in a research note on Wednesday, August 10th.

Insider Transactions at Insteel Industries

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