Insteel Industries (IIIN) Set to Announce Earnings on Thursday

Insteel Industries (NASDAQ:IIIN) will release its earnings data before the market opens on Thursday, April 25th. Analysts expect Insteel Industries to post earnings of $0.22 per share for the quarter. Persons interested in participating in the company’s earnings conference call can do so using this link.

Insteel Industries Stock Performance

Shares of IIIN opened at $34.86 on Wednesday. Insteel Industries has a twelve month low of $26.86 and a twelve month high of $39.38. The firm’s 50 day moving average price is $35.60 and its two-hundred day moving average price is $34.56. The firm has a market cap of $678.03 million, a P/E ratio of 30.31, a PEG ratio of 2.15 and a beta of 1.14.

Insteel Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Thursday, March 14th. Insteel Industries’s dividend payout ratio is presently 10.43%.

Insider Transactions at Insteel Industries

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

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.