Insteel Industries, Inc. (NASDAQ:IIIN) Shares Bought by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. increased its position in Insteel Industries, Inc. (NASDAQ:IIINFree Report) by 1.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 160,639 shares of the industrial products company’s stock after purchasing an additional 2,099 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.83% of Insteel Industries worth $6,151,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in IIIN. Allspring Global Investments Holdings LLC boosted its stake in shares of Insteel Industries by 80.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,254 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 1,006 shares during the period. Public Employees Retirement System of Ohio boosted its stake in shares of Insteel Industries by 60.9% in the third quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,400 shares during the period. Arizona State Retirement System purchased a new position in shares of Insteel Industries in the fourth quarter valued at $208,000. Raymond James Financial Services Advisors Inc. purchased a new position in shares of Insteel Industries in the fourth quarter valued at $223,000. Finally, Quadrature Capital Ltd boosted its stake in shares of Insteel Industries by 5.7% in the third quarter. Quadrature Capital Ltd now owns 8,408 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 455 shares during the period. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Price Performance

NASDAQ IIIN opened at $32.87 on Monday. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38. The company has a market capitalization of $640.31 million, a price-to-earnings ratio of 26.51, a price-to-earnings-growth ratio of 1.77 and a beta of 1.18. The company’s fifty day moving average price is $33.98 and its two-hundred day moving average price is $35.03.

Insteel Industries (NASDAQ:IIINGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. Insteel Industries had a net margin of 4.24% and a return on equity of 6.78%. The firm had revenue of $127.40 million for the quarter, compared to the consensus estimate of $134.89 million. During the same period in the prior year, the firm posted $0.26 EPS. The firm’s revenue was down 19.9% compared to the same quarter last year. As a group, analysts anticipate that Insteel Industries, Inc. will post 1.55 EPS for the current year.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.03 dividend. The ex-dividend date is Friday, June 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. Insteel Industries’s dividend payout ratio (DPR) is presently 9.68%.

Insteel Industries Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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