Shares of Insteel Industries Inc (NASDAQ:IIIN) have earned an average broker rating score of 3.00 (Hold) from the one analysts that provide coverage for the stock, Zacks Investment Research reports. One investment analyst has rated the stock with a hold rating. Insteel Industries’ rating score has declined by 50% in the last three months as a result of a number of analysts’ upgrades and downgrades.

Zacks has also assigned Insteel Industries an industry rank of 118 out of 265 based on the ratings given to its competitors.

A number of analysts have commented on IIIN shares. TheStreet downgraded shares of Insteel Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Longbow Research downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. Finally, BidaskClub downgraded shares of Insteel Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd.

Insteel Industries (IIIN) opened at $27.55 on Thursday. The stock has a market cap of $519.06, a PE ratio of 23.10 and a beta of 2.11. Insteel Industries has a one year low of $23.20 and a one year high of $39.20.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings results on Thursday, October 19th. The industrial products company reported $0.20 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.05). Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The company had revenue of $96.89 million for the quarter, compared to the consensus estimate of $96.25 million. During the same quarter last year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year.

The company also recently declared 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 currently 10.17%.

In other news, VP James F. Petelle sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 24th. The shares were sold at an average price of $27.11, for a total transaction of $27,110.00. Following the sale, the vice president now owns 14,788 shares in the company, valued at $400,902.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.70% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in IIIN. Advisory Services Network LLC grew its position in Insteel Industries by 3.2% during 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 in the last quarter. Oppenheimer & Close LLC purchased a new position in Insteel Industries during the third quarter valued at approximately $203,000. Stifel Financial Corp purchased a new position in Insteel Industries during the third quarter valued at approximately $204,000. Oppenheimer & Co. Inc. purchased a new position in Insteel Industries during the third quarter valued at approximately $217,000. Finally, Municipal Employees Retirement System of Michigan grew its position in Insteel Industries by 43.0% during the third quarter. Municipal Employees Retirement System of Michigan now owns 8,910 shares of the industrial products company’s stock valued at $233,000 after purchasing an additional 2,680 shares in the last quarter. 81.06% of the stock is currently owned by hedge funds and other institutional investors.

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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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