Last $21.95 USD
Change Today +0.47 / 2.19%
Volume 57.8K
As of 8:10 PM 02/26/15 All times are local (Market data is delayed by at least 15 minutes).

insteel industries inc (IIIN) Snapshot

Open
$21.52
Previous Close
$21.48
Day High
$22.28
Day Low
$21.25
52 Week High
12/9/14 - $24.85
52 Week Low
07/31/14 - $18.17
Market Cap
403.4M
Average Volume 10 Days
46.7K
EPS TTM
$0.98
Shares Outstanding
18.4M
EX-Date
03/11/15
P/E TM
22.3x
Dividend
$0.12
Dividend Yield
0.55%
Current Stock Chart for INSTEEL INDUSTRIES INC (IIIN)

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insteel industries inc (IIIN) Details

Insteel Industries, Inc., together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed 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. The company’s WWR is an engineered reinforcing product for use in nonresidential and residential construction. It produces a range of WWR products, including engineered structural mesh (ESM), concrete pipe reinforcement (CPR), and standard welded wire reinforcement (SWWR). ESM is an engineered made-to-order product used as the primary reinforcement for concrete elements or structures serving as a replacement for hot-rolled rebar; CPR is an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and SWWR is a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. The company sells its products through sales representatives to the manufacturers of concrete products, distributors, rebar fabricators, and contractors primarily in the United States, as well as in Canada, Mexico, and Central and South America. Insteel Industries, Inc. was founded in 1958 and is headquartered in Mount Airy, North Carolina.

847 Employees
Last Reported Date: 10/24/14
Founded in 1958

insteel industries inc (IIIN) Top Compensated Officers

Chairman, Chief Executive Officer, President ...
Total Annual Compensation: $512.1K
Chief Financial Officer, Vice President and T...
Total Annual Compensation: $291.0K
Vice President of Administration and Secretar...
Total Annual Compensation: $184.6K
Vice President and General Manager of the Con...
Total Annual Compensation: $274.6K
Compensation as of Fiscal Year 2014.

insteel industries inc (IIIN) Key Developments

Insteel Industries, Inc. Declares Quarterly Cash Dividend, Payable on March 27, 2015

Insteel Industries Inc. announced that its board of directors declared a quarterly cash dividend of $0.03 per share on the Company's common stock payable on March 27, 2015 to shareholders of record as of March 13, 2015.

Insteel Industries Announces Consolidation of Prestressed Concrete Strand Facilities Results in Elimination of Position

Insteel Industries Inc. announced that it will be closing its prestressed concrete strand facility in Newnan, Georgia and moving the manufacturing to its other three PC strand production facilities located in Gallatin, Tennessee; Houston, Texas; and Sanderson, Florida. The Newnan facility was acquired from American Spring Wire Corporation in August 2014. The consolidation of the plants is expected to result in the elimination of 20 positions at the Newnan facility. Employees of the Newnan facility will be offered employment at Insteel's other facilities together with relocation and transition assistance. It is anticipated that operations at the Newnan facility will cease by the end of March 2015 and the PC strand-related equipment will be relocated to Insteel's other facilities.

Insteel Industries Inc. Reports Unaudited Consolidated Earnings Results for the First Quarter Ended December 27, 2014; Provides Capital Expenditures Guidance for the Fiscal 2015

Insteel Industries Inc. reported unaudited consolidated earnings results for the first quarter ended December 27, 2014. Net earnings for the first quarter of fiscal 2015 increased to $4.2 million, or $0.22 per diluted share from $2.7 million, or $0.15 per share in the same period a year ago. Net sales increased 26.8% to $110.6 million from $87.2 million in the same period a year ago due to the August 2014 acquisition of the prestressed concrete strand business of American Spring Wire Corporation together with higher sales at Insteel's other facilities. Earnings before income taxes was $6,337,000 against $4,331,000 a year ago. Net cash used for operating activities was $9,513,000 against net cash provided by operating activities of $6,322,000 a year ago. Capital expenditures was $3,515,000 against $1,984,000 a year ago. For the fiscal 2015, the company expects capital expenditures are expected to range from $11.0 to $13.0 million for fiscal 2015.

 

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Industry Analysis

IIIN

Industry Average

Valuation IIIN Industry Range
Price/Earnings 22.3x
Price/Sales 0.9x
Price/Book 2.2x
Price/Cash Flow 21.9x
TEV/Sales 0.9x
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