Insteel Industries (IIIN) Earns Media Sentiment Score of 0.10

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Headlines about Insteel Industries (NASDAQ:IIIN) have been trending somewhat positive on Thursday, according to Accern. Accern ranks the sentiment of press coverage by reviewing more than twenty million blog and news sources. Accern ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Insteel Industries earned a coverage optimism score of 0.10 on Accern’s scale. Accern also gave media stories about the industrial products company an impact score of 46.3644330287698 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

IIIN has been the topic of several analyst reports. BidaskClub raised shares of Insteel Industries from a “buy” rating to a “strong-buy” rating in a report on Tuesday, May 22nd. Sidoti raised shares of Insteel Industries from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Wednesday, April 11th.

Insteel Industries traded up $0.72, hitting $34.62, during trading hours on Thursday, MarketBeat Ratings reports. 50,500 shares of the stock traded hands, compared to its average volume of 108,505. Insteel Industries has a 1 year low of $23.20 and a 1 year high of $35.60. The company has a market capitalization of $646.25 million, a P/E ratio of 31.68 and a beta of 2.00.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings results on Monday, April 23rd. The industrial products company reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.47 by ($0.16). Insteel Industries had a net margin of 6.18% and a return on equity of 9.36%. The firm had revenue of $107.40 million for the quarter, compared to analysts’ expectations of $107.30 million. During the same period in the prior year, the firm earned $0.39 EPS. Insteel Industries’s revenue for the quarter was up 6.1% compared to the same quarter last year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 29th. Shareholders of record on Friday, June 15th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.35%. The ex-dividend date was Thursday, June 14th.

In other news, insider Scot R. Jafroodi sold 5,591 shares of the business’s stock in a transaction on Thursday, May 24th. The shares were sold at an average price of $31.75, for a total value of $177,514.25. Following the transaction, the insider now owns 24,666 shares of the company’s stock, valued at $783,145.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP James F. Petelle sold 1,634 shares of the business’s stock in a transaction on Friday, May 18th. The stock was sold at an average price of $32.00, for a total transaction of $52,288.00. Following the completion of the transaction, the vice president now directly owns 16,532 shares in the company, valued at approximately $529,024. The disclosure for this sale can be found here. 5.70% of the stock is owned by insiders.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company markets prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). 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.

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

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