Insteel Industries Inc. (NASDAQ:IIIN) Director Gary L. Pechota sold 2,000 shares of the firm’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $40.78, for a total value of $81,560.00. Following the sale, the director now owns 44,929 shares in the company, valued at $1,832,204.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Insteel Industries Inc. (NASDAQ:IIIN) traded down 0.721% during midday trading on Tuesday, reaching $40.764. The company had a trading volume of 89,682 shares. The stock has a market capitalization of $773.50 million, a PE ratio of 20.905 and a beta of 2.17. Insteel Industries Inc. has a 1-year low of $18.72 and a 1-year high of $42.81. The firm’s 50 day moving average is $31.45 and its 200 day moving average is $31.67.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 20th. The company reported $0.51 EPS 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 period in the previous year, the company posted $0.51 earnings per share. Insteel Industries’s quarterly revenue was down 12.7% on a year-over-year basis. On average, equities analysts anticipate that Insteel Industries Inc. will post $2.11 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, January 6th. Stockholders of record on Wednesday, December 14th will be issued a $0.03 dividend. The ex-dividend date is Monday, December 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.29%. Insteel Industries’s payout ratio is 6.12%.
Separately, Sidoti upgraded Insteel Industries from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 22nd.
About Insteel Industries