Insteel Industries (IIIN) Earning Somewhat Negative News Coverage, Analysis Shows
News coverage about Insteel Industries (NASDAQ:IIIN) has trended somewhat negative recently, AlphaOne Sentiment reports. AlphaOne, a unit of Accern, identifies positive and negative press coverage by analyzing more than 20 million news and blog sources in real-time. AlphaOne ranks coverage of publicly-traded companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Insteel Industries earned a coverage optimism score of -0.03 on AlphaOne’s scale. AlphaOne also gave media coverage about the industrial products company an impact score of 69 out of 100, indicating that recent press coverage is likely to have an effect on the company’s share price in the near future.
These are some of the news headlines that may have impacted Alpha One’s rankings:
- Insteel Industries, Inc. :IIIN-US: Earnings Analysis: Q2, 2017 By the Numbers : April 21, 2017 (finance.yahoo.com)
- Why Is Insteel Industries Inc (IIIN) Trading Below The Industry Average? (simplywall.st)
- Insteel Industries Reports Second Quarter 2017 Financial Results (finance.yahoo.com)
- Insteel Industries Inc (IIIN) Posts Earnings Results, Misses Expectations By $0.12 EPS (americanbankingnews.com)
- BRIEF-Insteel Industries Q2 earnings per share $0.39 (feeds.reuters.com)
IIIN has been the subject of several research reports. Sidoti initiated coverage on shares of Insteel Industries in a research note on Wednesday, March 22nd. They issued a “buy” rating for the company. Longbow Research initiated coverage on shares of Insteel Industries in a research note on Friday, March 10th. They issued a “buy” rating for the company.
Insteel Industries (NASDAQ:IIIN) traded down 1.34% during midday trading on Friday, hitting $34.57. 229,125 shares of the stock traded hands. The company has a market cap of $656.31 million, a PE ratio of 19.03 and a beta of 2.30. Insteel Industries has a one year low of $22.50 and a one year high of $42.81. The company’s 50-day moving average is $35.24 and its 200-day moving average is $35.00.
Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.39 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. Insteel Industries had a return on equity of 16.65% and a net margin of 8.33%. The business earned $101.16 million during the quarter, compared to the consensus estimate of $102.46 million. During the same quarter in the previous year, the business posted $0.38 earnings per share. The company’s quarterly revenue was down 5.8% compared to the same quarter last year. Equities research analysts expect that Insteel Industries will post $2.06 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Stockholders of record on Friday, March 17th were given a $0.03 dividend. The ex-dividend date was Wednesday, March 15th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.35%. Insteel Industries’s payout ratio is currently 6.56%.
In other news, insider Scot R. Jafroodi sold 5,282 shares of the firm’s stock in a transaction dated Thursday, March 2nd. The shares were sold at an average price of $37.09, for a total value of $195,909.38. Following the transaction, the insider now directly owns 27,331 shares in the company, valued at approximately $1,013,706.79. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Richard Wagner sold 12,466 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $38.33, for a total transaction of $477,821.78. Following the completion of the transaction, the vice president now owns 68,697 shares in the company, valued at $2,633,156.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,249 shares of company stock worth $767,043. Insiders own 5.70% of the company’s stock.
About Insteel Industries
Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
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