Insteel Industries (NASDAQ:IIIN) Share Price Crosses Above 200-Day Moving Average – What’s Next?

Insteel Industries, Inc. (NASDAQ:IIIN)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.53 and traded as high as $35.35. Insteel Industries shares last traded at $35.2330, with a volume of 169,253 shares trading hands.

Insteel Industries Stock Performance

The stock has a fifty day simple moving average of $32.57 and a two-hundred day simple moving average of $34.53. The stock has a market cap of $683.38 million, a PE ratio of 35.59, a PEG ratio of 1.81 and a beta of 0.81.

Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, January 15th. The industrial products company reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.06. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.The firm’s revenue was up 23.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.06 earnings per share. On average, equities analysts predict that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 28th were issued a dividend of $1.00 per share. This represents a $4.00 dividend on an annualized basis and a yield of 11.4%. The ex-dividend date of this dividend was Friday, November 28th. Insteel Industries’s dividend payout ratio (DPR) is currently 4.94%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of IIIN. AQR Capital Management LLC boosted its stake in Insteel Industries by 12.4% during the 1st quarter. AQR Capital Management LLC now owns 155,949 shares of the industrial products company’s stock valued at $4,101,000 after purchasing an additional 17,168 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in shares of Insteel Industries during the first quarter valued at approximately $225,000. State of Alaska Department of Revenue boosted its position in shares of Insteel Industries by 7.3% during the second quarter. State of Alaska Department of Revenue now owns 11,552 shares of the industrial products company’s stock worth $429,000 after buying an additional 785 shares during the period. Maryland State Retirement & Pension System bought a new position in Insteel Industries in the 2nd quarter worth approximately $217,000. Finally, Grace & White Inc. NY bought a new position in Insteel Industries in the 2nd quarter worth approximately $391,000. 83.27% of the stock is owned by institutional investors and hedge funds.

About Insteel Industries

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.