Insteel Industries (IIIN) Scheduled to Post Quarterly Earnings on Thursday

Insteel Industries (NASDAQ:IIIN) is set to announce its earnings results before the market opens on Thursday, April 25th. Analysts expect the company to announce earnings of $0.22 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.06). The company had revenue of $121.80 million during the quarter, compared to analyst estimates of $130.07 million. Insteel Industries had a net margin of 3.71% and a return on equity of 6.16%. The firm’s revenue was down 27.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.44 earnings per share. On average, analysts expect Insteel Industries to post $1 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Insteel Industries Price Performance

NASDAQ:IIIN opened at $32.77 on Thursday. The firm has a market capitalization of $637.38 million, a PE ratio of 28.50, a price-to-earnings-growth ratio of 2.19 and a beta of 1.14. The business’s fifty day moving average price is $35.78 and its 200 day moving average price is $34.51. Insteel Industries has a 12 month low of $25.44 and a 12 month high of $39.38.

Insteel Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 14th. Insteel Industries’s dividend payout ratio (DPR) is presently 10.43%.

Insider Activity at Insteel Industries

In related news, COO Richard Wagner sold 1,715 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.14, for a total value of $61,980.10. Following the transaction, the chief operating officer now owns 40,952 shares of the company’s stock, valued at $1,480,005.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insteel Industries

Hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC acquired a new position in Insteel Industries in the 1st quarter valued at about $280,000. Citigroup Inc. increased its position in Insteel Industries by 16.4% in the 1st quarter. Citigroup Inc. now owns 17,217 shares of the industrial products company’s stock valued at $637,000 after acquiring an additional 2,432 shares during the period. MetLife Investment Management LLC increased its position in Insteel Industries by 51.0% in the 1st quarter. MetLife Investment Management LLC now owns 10,688 shares of the industrial products company’s stock valued at $395,000 after acquiring an additional 3,609 shares during the period. Rhumbline Advisers increased its position in Insteel Industries by 1.5% in the 1st quarter. Rhumbline Advisers now owns 53,384 shares of the industrial products company’s stock valued at $1,975,000 after acquiring an additional 779 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Insteel Industries by 14.1% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,737 shares of the industrial products company’s stock valued at $619,000 after acquiring an additional 2,068 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

About Insteel Industries

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.