StockNews.com downgraded shares of Insteel Industries (NASDAQ:IIIN – Free Report) from a buy rating to a hold rating in a report published on Saturday morning.
Insteel Industries Price Performance
IIIN stock opened at $27.52 on Friday. Insteel Industries has a 1-year low of $26.74 and a 1-year high of $39.38. The business has a fifty day moving average price of $30.76 and a 200-day moving average price of $31.59. The stock has a market capitalization of $535.85 million, a P/E ratio of 22.19, a P/E/G ratio of 2.21 and a beta of 1.10.
Insteel Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Friday, September 13th. Insteel Industries’s payout ratio is currently 9.68%.
Institutional Trading of Insteel Industries
About Insteel Industries
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.
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