StockNews.com lowered shares of Insteel Industries (NASDAQ:IIIN – Free Report) from a buy rating to a hold rating in a report released on Saturday morning.
Insteel Industries Trading Down 2.0 %
NASDAQ:IIIN opened at $27.82 on Friday. Insteel Industries has a 12-month low of $26.74 and a 12-month high of $39.38. The stock has a 50-day moving average price of $30.95 and a 200 day moving average price of $31.71. The stock has a market capitalization of $540.82 million, a P/E ratio of 27.34, a P/E/G ratio of 2.21 and a beta of 1.10.
Insteel Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend was Friday, September 13th. Insteel Industries’s dividend payout ratio is currently 12.12%.
Institutional Trading of Insteel Industries
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.
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