Gary L. Pechota Sells 2,000 Shares of Insteel Industries Inc. (IIIN) Stock
Insteel Industries Inc. (NASDAQ:IIIN) Director Gary L. Pechota sold 2,000 shares of the company’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $40.78, for a total transaction of $81,560.00. Following the transaction, the director now owns 44,929 shares of the company’s stock, valued at $1,832,204.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Insteel Industries Inc. (NASDAQ:IIIN) opened at 39.57 on Thursday. The stock’s 50 day moving average is $31.45 and its 200 day moving average is $31.67. The firm has a market capitalization of $750.84 million, a P/E ratio of 20.29 and a beta of 2.17. Insteel Industries Inc. has a one year low of $18.72 and a one year high of $42.81.
Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, October 20th. The company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.61 by $0.10. Insteel Industries had a net margin of 8.90% and a return on equity of 18.03%. The business earned $103.10 million during the quarter, compared to analysts’ expectations of $125.11 million. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The firm’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities research analysts predict that Insteel Industries Inc. will post $2.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 6th. Investors of record on Wednesday, December 14th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Monday, December 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.30%. Insteel Industries’s dividend payout ratio is 6.12%.
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Separately, Sidoti downgraded shares of Insteel Industries from a “buy” rating to a “neutral” rating in a report on Tuesday.
Insteel Industries Company Profile
Insteel Industries, Inc (Insteel) is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets PC strand and welded wire reinforcement (WWR), including Engineered Structural Mesh (ESM), concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR).
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