Insteel Industries (NASDAQ:IIIN) Announces Quarterly Earnings Results, Misses Estimates By $0.03 EPS

Insteel Industries (NASDAQ:IIIN) announced its quarterly earnings results on Thursday. The industrial products company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03), RTT News reports. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. The business had revenue of $129.70 million for the quarter, compared to analyst estimates of $117.45 million. During the same period last year, the firm earned $0.06 earnings per share. The company’s quarterly revenue was up 6.5% on a year-over-year basis.

Insteel Industries Stock Performance

Insteel Industries stock opened at $24.82 on Thursday. The firm has a market capitalization of $482.25 million, a PE ratio of 25.07, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. Insteel Industries has a one year low of $23.60 and a one year high of $38.40. The stock’s 50 day moving average price is $28.50 and its 200 day moving average price is $30.13.

Insteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were paid a $0.03 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.48%. Insteel Industries’s dividend payout ratio (DPR) is currently 12.12%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

Insteel Industries Company Profile

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.