Q3 Earnings Estimate for Insteel Industries Issued By Sidoti

Insteel Industries, Inc. (NYSE:IIIN) – Research analysts at Sidoti cut their Q3 2027 earnings estimates for Insteel Industries in a research report issued to clients and investors on Friday, October 23rd. Sidoti analyst J. Romero now anticipates that the company will post earnings of $0.67 per share for the quarter, down from their prior estimate of $0.79. The consensus estimate for Insteel Industries’ current full-year earnings is $2.42 per share. Sidoti also issued estimates for Insteel Industries’ Q4 2027 earnings at $0.71 EPS, Q1 2028 earnings at $0.29 EPS, Q2 2028 earnings at $0.49 EPS, Q3 2028 earnings at $0.76 EPS and Q4 2028 earnings at $0.79 EPS.

Insteel Industries (NYSE:IIIN) last released its earnings results on Thursday, October 22nd. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.09). The business had revenue of $209.28 million for the quarter. Insteel Industries had a return on equity of 8.17% and a net margin of 4.00%. The firm’s quarterly revenue was up 18.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.74 EPS.

Other analysts have also issued research reports about the company. Weiss Ratings raised Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Zacks Research lowered Insteel Industries from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 15th. Finally, Wall Street Zen raised Insteel Industries from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Two investment analysts have rated the stock with a Hold rating. According to MarketBeat, the company presently has an average rating of “Hold”.

Insteel Industries Stock Up 1.0%

Shares of IIIN stock opened at $28.05 on Monday. The firm has a 50 day moving average of $30.15 and a two-hundred day moving average of $31.12. The stock has a market capitalization of $543.05 million, a PE ratio of 17.92, a P/E/G ratio of 0.96 and a beta of 0.54. Insteel Industries has a 52 week low of $24.35 and a 52 week high of $38.45.

Hedge Funds Weigh In On Insteel Industries

Several large investors have recently bought and sold shares of IIIN. Group One Trading LLC acquired a new stake in Insteel Industries in the second quarter valued at $37,000. GAMMA Investing LLC boosted its position in shares of Insteel Industries by 71.2% during the 2nd quarter. GAMMA Investing LLC now owns 1,998 shares of the company’s stock worth $60,000 after acquiring an additional 831 shares in the last quarter. Legal & General Group Plc acquired a new position in shares of Insteel Industries during the 2nd quarter worth about $99,000. Fifth Third Bancorp boosted its position in shares of Insteel Industries by 4,272.7% during the 1st quarter. Fifth Third Bancorp now owns 4,329 shares of the company’s stock worth $146,000 after acquiring an additional 4,230 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new position in shares of Insteel Industries in the 2nd quarter valued at about $155,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insider Activity at Insteel Industries

In other news, COO Richard Wagner sold 1,640 shares of the firm’s stock in a transaction on Thursday, August 27th. The shares were sold at an average price of $30.31, for a total value of $49,708.40. Following the sale, the chief operating officer directly owned 40,000 shares in the company, valued at approximately $1,212,400. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 6.20% of the company’s stock.

Insteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 25th. Shareholders of record on Friday, September 11th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 11th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Insteel Industries’s dividend payout ratio is currently 7.89%.

Insteel Industries Company Profile

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products used primarily in concrete construction. The company produces welded wire reinforcement and prestressed concrete strand, which help strengthen and reinforce concrete structures.

Its products are used in a range of infrastructure, commercial, residential, and industrial applications, including roads, bridges, buildings, precast concrete products, and other construction projects. Insteel sells its products primarily through a network serving customers across the United States.

Founded in 1953 and headquartered in Mount Airy, North Carolina, Insteel operates manufacturing facilities in the United States.