Insteel Industries, Inc. (NASDAQ:IIIN) has received an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. One equities research analyst has rated the stock with a hold rating and one has given a strong buy rating to the company. Insteel Industries’ rating score has declined by 100% in the last three months as a result of various analysts’ ratings changes.

Brokerages have set a 12-month consensus price objective of $44.00 for the company, according to Zacks. Zacks has also assigned Insteel Industries an industry rank of 110 out of 265 based on the ratings given to related companies.

A number of equities research analysts have recently commented on the company. TheStreet downgraded Insteel Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. BidaskClub raised Insteel Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Finally, Longbow Research downgraded Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th.

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Several large investors have recently made changes to their positions in the company. Texas Permanent School Fund grew its position in shares of Insteel Industries by 1.1% in the second quarter. Texas Permanent School Fund now owns 12,779 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 134 shares during the period. Advisory Services Network LLC grew its position in shares of Insteel Industries by 3.2% in the second quarter. Advisory Services Network LLC now owns 5,895 shares of the industrial products company’s stock valued at $194,000 after purchasing an additional 181 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Insteel Industries by 6.1% in the second quarter. The Manufacturers Life Insurance Company now owns 14,653 shares of the industrial products company’s stock valued at $483,000 after purchasing an additional 847 shares during the period. Victory Capital Management Inc. grew its position in shares of Insteel Industries by 8.1% in the second quarter. Victory Capital Management Inc. now owns 11,884 shares of the industrial products company’s stock valued at $392,000 after purchasing an additional 886 shares during the period. Finally, Schwab Charles Investment Management Inc. grew its position in shares of Insteel Industries by 1.3% in the second quarter. Schwab Charles Investment Management Inc. now owns 76,572 shares of the industrial products company’s stock valued at $2,525,000 after purchasing an additional 987 shares during the period. 81.25% of the stock is owned by institutional investors and hedge funds.

Shares of Insteel Industries (NASDAQ:IIIN) traded down 0.26% during mid-day trading on Tuesday, hitting $27.00. 125,749 shares of the stock were exchanged. Insteel Industries has a 52 week low of $23.20 and a 52 week high of $42.81. The stock’s 50-day moving average is $25.72 and its 200-day moving average is $29.60. The stock has a market capitalization of $513.68 million, a price-to-earnings ratio of 18.12 and a beta of 2.10.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). The business had revenue of $96.89 million during the quarter, compared to analysts’ expectations of $96.25 million. Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. Insteel Industries’s revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.51 EPS. Analysts forecast that Insteel Industries will post $1.64 earnings per share for the current fiscal year.

The firm also recently disclosed a special dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be given a $1.00 dividend. This represents a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Insteel Industries’s dividend payout ratio is currently 10.17%.

Insteel Industries Company Profile

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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