Insteel Industries (NASDAQ:IIIN – Get Free Report) posted its earnings results on Thursday. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.09), Briefing.com reports. Insteel Industries had a return on equity of 6.78% and a net margin of 4.24%. The business had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $153.04 million. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Insteel Industries’s quarterly revenue was down 12.0% compared to the same quarter last year.
Insteel Industries Trading Down 0.6 %
Shares of IIIN traded down $0.20 during midday trading on Friday, reaching $33.00. The stock had a trading volume of 20,786 shares, compared to its average volume of 97,448. The company’s 50-day moving average is $31.46 and its 200 day moving average is $33.91. Insteel Industries has a 12-month low of $26.86 and a 12-month high of $39.38. The company has a market capitalization of $642.84 million, a price-to-earnings ratio of 26.77, a price-to-earnings-growth ratio of 2.40 and a beta of 1.11.
Insteel Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. The ex-dividend date was Friday, June 14th. Insteel Industries’s payout ratio is currently 9.68%.
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.
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