Insteel Industries, Inc. (NASDAQ:IIIN) VP James F. Petelle sold 1,000 shares of Insteel Industries stock in a transaction on Tuesday, October 24th. The shares were sold at an average price of $27.11, for a total value of $27,110.00. Following the transaction, the vice president now owns 14,788 shares of the company’s stock, valued at approximately $400,902.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Insteel Industries, Inc. (IIIN) traded up 2.58% during mid-day trading on Thursday, hitting $28.21. The company’s stock had a trading volume of 35,339 shares. The firm’s 50-day moving average is $25.83 and its 200-day moving average is $29.52. Insteel Industries, Inc. has a 12-month low of $23.20 and a 12-month high of $42.81. The company has a market cap of $536.70 million, a P/E ratio of 18.93 and a beta of 2.10.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.25 by ($0.05). Insteel Industries had a net margin of 5.80% and a return on equity of 10.50%. The business had revenue of $96.89 million for the quarter, compared to analysts’ expectations of $96.25 million. During the same quarter in the prior year, the company posted $0.51 EPS. The business’s revenue for the quarter was down 6.0% on a year-over-year basis. Analysts predict that Insteel Industries, Inc. will post $1.64 EPS 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 issued a dividend of $1.00 per share. The ex-dividend date is Tuesday, December 19th. This represents a dividend yield of 0.44%. Insteel Industries’s dividend payout ratio is presently 10.17%.

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Several institutional investors and hedge funds have recently modified their holdings of the company. Nationwide Fund Advisors lifted its holdings in shares of Insteel Industries by 23.3% during the 3rd quarter. Nationwide Fund Advisors now owns 81,430 shares of the industrial products company’s stock valued at $2,126,000 after purchasing an additional 15,388 shares during the last quarter. Thomson Horstmann & Bryant Inc. lifted its holdings in shares of Insteel Industries by 6.6% during the 3rd quarter. Thomson Horstmann & Bryant Inc. now owns 289,860 shares of the industrial products company’s stock valued at $7,568,000 after purchasing an additional 17,848 shares during the last quarter. Advisory Services Network LLC lifted its holdings in shares of Insteel Industries by 3.2% during the 2nd 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 last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Insteel Industries by 6.1% during the 2nd 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 last quarter. Finally, State Street Corp lifted its holdings in shares of Insteel Industries by 3.3% during the 2nd quarter. State Street Corp now owns 450,181 shares of the industrial products company’s stock valued at $14,842,000 after purchasing an additional 14,502 shares during the last quarter. Hedge funds and other institutional investors own 81.25% of the company’s stock.

A number of research analysts have issued reports on IIIN shares. Longbow Research cut Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Friday, August 25th. BidaskClub cut Insteel Industries from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Finally, TheStreet cut Insteel Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold”.

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).

Insider Buying and Selling by Quarter for Insteel Industries (NASDAQ:IIIN)

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