Insteel Industries Inc. (IIIN) Director Gary L. Pechota Sells 2,000 Shares
Insteel Industries Inc. (NASDAQ:IIIN) Director Gary L. Pechota sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $40.78, for a total transaction of $81,560.00. Following the sale, the director now directly owns 44,929 shares of the company’s stock, valued at approximately $1,832,204.62. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Insteel Industries Inc. (NASDAQ:IIIN) opened at 40.11 on Wednesday. The company’s 50-day moving average is $31.45 and its 200-day moving average is $31.67. Insteel Industries Inc. has a 52-week low of $18.72 and a 52-week high of $42.81. The firm has a market capitalization of $761.09 million, a PE ratio of 20.57 and a beta of 2.17.
Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, October 20th. The company reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.61 by $0.10. Insteel Industries had a return on equity of 18.03% and a net margin of 8.90%. The company had revenue of $103.10 million for the quarter, compared to analysts’ expectations of $125.11 million. During the same quarter last year, the business posted $0.51 EPS. The business’s quarterly revenue was down 12.7% on a year-over-year basis. Analysts forecast that Insteel Industries Inc. will post $2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Wednesday, December 14th will be issued a dividend of $0.03 per share. The ex-dividend date is Monday, December 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. Insteel Industries’s dividend payout ratio (DPR) is presently 6.12%.
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Separately, Sidoti downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a report on Tuesday.
Insteel Industries Company Profile
Insteel Industries, Inc (Insteel) is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets PC strand and welded wire reinforcement (WWR), including Engineered Structural Mesh (ESM), concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR).
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