It is currently trading at $27.07 a bit higher than the 50 day moving average which is $25.72 and which is marginally under the 200 day moving average of $29.60. The 50 day moving average moved up $1.35 and the 200 day average moved down $-2.53. Trading was heavy with 720K shares changing hands by the end of trading on Tuesday. Overall, volume was up 468.09% over the stocks normal daily volume.
Short traders are feeling a little more bearish on Insteel Industries, Inc. recently if you put credence in the rise in short interest. The firm recorded a rise in short interest between September 15, 2017 and September 29, 2017 of 7.85%. Short shares increased 72,409 over that period. Days to cover decreased from 8.0 to 7.0 and the short interest percentage is 0.05% as of September 29.
A few notable investment firms have updated their holdings. As of the end of the quarter Mark Sheptoff Financial Planning, LLC had disposed of 1 shares trimming its holdings by 0.5%. The value of the company’s investment in Insteel Industries, Inc. decreased from $7,000 to $7,000 a change of $0 quarter over quarter. Spot Trading L.l.c downsized its holdings by selling 19,200 shares a decrease of 99.0% as of 03/31/2017. Spot Trading L.l.c currently owns 200 shares with a value of $7,000. The total value of its holdings decreased 98.8%.
Ubs Group Ag divested its ownership by shedding 919 shares a decrease of 71.4% from 03/31/2017 to 06/30/2017. Ubs Group Ag claims 368 shares worth $12,000. The value of the position overall is down by 74.5%. Advisory Services Network, LLC reduced its stake by shedding 178 shares a decrease of 3.0% in the quarter. Advisory Services Network, LLC owns 5,717 shares valued at $149,000. The value of the position overall is down by 23.2%.
In the market the company is trading up since yesterday’s close of 27. The company also recently announced a dividend payable on Friday the 5th of January 2018. The dividend payment will be $0.030 per share for the quarter or $0.12 on an annualized basis. The dividend yield will be $0.41. The ex-dividend date will be Thursday September 14th, 2017.
The P/E ratio is currently 18.17 and market capitalization is 515.01M. As of the last earnings report the EPS was $1.49 and is projected to be $1.64 for the current year with 19,025,000 shares presently outstanding. Analysts expect next quarter’s EPS to be $0.37 and the next full year EPS is projected to be $2.20.
Insteel Industries, Inc., launched on December 1, 1958, is a manufacturer of steel wire reinforcing products for concrete construction applications. The Business’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). The Business’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Company sells its products nationwide across the United States, Canada, Mexico, and Central and South America..