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Tuesday, January 31, 2023

Insteel Industries Inc. (NYSE: IIIN) May Be Attracting Institutional Investments

After Hours

The risks associated with pre-market and after-hours trading may be slightly higher than the regular market hours. The reason is that extended-hours trading may result in wider spreads for particular security due to lower liquidity and higher volatility as issuers often announce critical financial information outside regular trading hours. After-hours trades for Insteel Industries Inc. (IIIN) shows that investor sentiment remained intact, with the stock’s consolidated last price rising by $0.03, or 0.11%, to $26.92. The Insteel Industries Inc. has recorded 328 volume in the after hours trading session. Recently, Yahoo Finance discussed the stock, revealing that Insteel Industries Reports First Quarter 2023 Results.


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Stocks Info

Insteel Industries Inc. is listed on the NYSE as a member of the Industrials sector and is a part of the Metal Fabrication industry. At the end of the last regular session, the stock closed at $26.89 and fluctuated between $28.44 as its day high and $26.15 as its day low. The current market capitalization of Insteel Industries Inc. is $518.17M. A total of 0.63 million shares were traded on the day, compared to an average of 146.41K shares.

Insider Activity

Additionally, investors take into account insider trades when predicting how a stock will perform. During the recent three months, IIIN has seen 1 BUY and 0 SELL insider trades, representing the acquisition of 4,708 and the disposition of 0 shares. Over the last 12 months, there were 32 BUYs and 16 SELLs from insiders. Insiders purchased 95,997 shares during that period but sold 69,832.

In the most recent transaction, Jafroodi Scot R sold 750 shares of IIIN for 43.64 per share on Jun 07. After the transaction, the VP and Chief Acct. Officer now owns 37,046 company shares. In a previous transaction on Jun 06, Jafroodi Scot R sold 500 shares at 43.54 per share. IIIN shares that VP and Chief Acct. Officer owns now total 37,796.

Among the insiders who sold shares, Wagner Richard disposed of 10,576 shares on May 18 at a per-share price of $42.58. This resulted in the Senior Vice President & COO holding 36,620 shares of IIIN after the transaction. In another insider transaction, Jafroodi Scot R sold 1,088 shares at $45.50 per share on May 18. Company shares held by the VP and Chief Acct. Officer now total 41,296.

Dividend

It is more appealing for investors to invest in companies that pay dividends because dividends generate immediate cash flow and indicate a positive outlook for the company. Insteel Industries Inc. pays an annual dividend of $0.12, resulting in a dividend yield of 0.45%, and it has a price to earnings (P/E) ratio of 4.22.

Though price targets are rarely accurate, they can exert some influence from time to time and were often accepted as valuable by the market. According to analysts who have offered 12-month price targets for IIIN in the last 3 months, the mean price target is $42.00 with high estimates of $49.00 and low estimates of $35.00. In terms of 52-week highs and lows, IIIN has a high of $44.51 and a low of $22.39.

As of this writing, IIIN has an earnings estimate of $0.85 per share for the current quarter. EPS was calculated based on a consensus of 2 estimates, with a high estimate of $0.87 per share and a lower estimate of $0.83. The company reported an EPS of $1.96 in the last quarter, which was -5.80% lower than expectations of $2.08.

Balance Sheet Annually/Quarterly

A balance sheet is a report that shows the company’s assets and liabilities. In addition, it shows how much equity investors have invested in the company. Investors can determine the company’s prospects by calculating its financial ratios based on this information.

Analysts Opinion

It may be riskier to trade before market opening and after market closing than during regular market hours. Since issuers often announce critical financial information outside regular trading hours. Extended-hours trading may result in wider spreads for particular securities due to lower liquidity and higher volatility. Currently, 2 analysts are providing their opinions on the stock. On a scale of 1 to 5, with 1 being Sell and 5 being Buy, the average analyst rating for IIIN is Buy with a score of 5.00. A total of 2 analysts rated the stock as Buy while 0 rated it as Overweight while 0 rated it as Hold. Among the other participants, 0 thought the stock was Underweight and 0 thought it should be Sold.

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