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

Insteel Industries (NASDAQ:IIIN) announced its quarterly earnings results on Thursday. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate 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 company had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $117.45 million. During the same quarter in the prior year, the company earned $0.06 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis.

Insteel Industries Stock Performance

Shares of Insteel Industries stock opened at $25.77 on Friday. The company’s fifty day moving average is $28.43 and its two-hundred day moving average is $30.10. Insteel Industries has a 1 year low of $23.60 and a 1 year high of $38.40. The company has a market capitalization of $500.77 million, a P/E ratio of 24.28, a PEG ratio of 1.80 and a beta of 1.14.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.47%. Insteel Industries’s dividend payout ratio (DPR) is 12.12%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Insteel Industries from a “buy” rating to a “hold” rating in a research note 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.