Insteel Industries (NASDAQ:IIIN) Receives News Impact Rating of 0.11

Media stories about Insteel Industries (NASDAQ:IIIN) have been trending somewhat positive this week, according to Accern Sentiment Analysis. Accern identifies positive and negative press coverage by reviewing more than 20 million news and blog sources. Accern ranks coverage of publicly-traded companies on a scale of negative one to one, with scores closest to one being the most favorable. Insteel Industries earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media coverage about the industrial products company an impact score of 46.8385067660956 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.

Several research firms have weighed in on IIIN. Sidoti started coverage on Insteel Industries in a research note on Monday, December 18th. They issued a “buy” rating and a $34.00 price objective on the stock. TheStreet lowered Insteel Industries from a “b-” rating to a “c+” rating in a research note on Thursday, October 19th.

Shares of Insteel Industries (IIIN) traded up $0.14 on Friday, hitting $29.47. The stock had a trading volume of 83,090 shares, compared to its average volume of 133,761. Insteel Industries has a 52 week low of $23.20 and a 52 week high of $39.20. The company has a market capitalization of $561.14, a P/E ratio of 24.97 and a beta of 2.11.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, October 19th. The industrial products company reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The business had revenue of $96.89 million during the quarter, compared to the consensus estimate of $96.25 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. The company’s revenue for the quarter was down 6.0% compared to the same quarter last year.

The business also recently announced a special dividend, which was paid on Friday, January 5th. Investors of record on Wednesday, December 20th were given a dividend of $1.00 per share. The ex-dividend date of this dividend was Tuesday, December 19th. This represents a dividend yield of 0.44%. Insteel Industries’s payout ratio is 10.17%.

In related news, VP James F. Petelle sold 1,000 shares of Insteel Industries stock in a transaction that occurred on Tuesday, October 24th. The stock was sold at an average price of $27.11, for a total transaction of $27,110.00. Following the transaction, the vice president now owns 14,788 shares of the company’s stock, valued at $400,902.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.70% of the stock is owned by insiders.

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About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

Insider Buying and Selling by Quarter for Insteel Industries (NASDAQ:IIIN)

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