Insteel Industries (NASDAQ:IIIN) Releases Earnings Results, Misses Expectations By $0.03 EPS

Insteel Industries (NASDAQ:IIIN) posted its quarterly earnings results on Thursday. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03), RTT News reports. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The company had revenue of $129.70 million during the quarter, compared to the consensus estimate of $117.45 million. During the same period last year, the firm posted $0.06 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year.

Insteel Industries Price Performance

IIIN opened at $27.01 on Friday. The company has a fifty day moving average price of $28.37 and a 200-day moving average price of $30.08. The firm has a market capitalization of $524.75 million, a P/E ratio of 27.28, a price-to-earnings-growth ratio of 1.80 and a beta of 1.14. Insteel Industries has a one year low of $23.60 and a one year high of $38.40.

Insteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. Insteel Industries’s dividend payout ratio is 12.12%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

Insteel Industries Company Profile

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.