22,195 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Acquired by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 22,195 shares of the industrial products company’s stock, valued at approximately $690,000. Intech Investment Management LLC owned approximately 0.11% of Insteel Industries at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of IIIN. American Century Companies Inc. raised its stake in Insteel Industries by 14.6% during the second quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock valued at $14,480,000 after purchasing an additional 59,591 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Insteel Industries by 26.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock worth $10,954,000 after purchasing an additional 74,791 shares during the period. Oppenheimer & Co. Inc. raised its holdings in shares of Insteel Industries by 2.0% in the second quarter. Oppenheimer & Co. Inc. now owns 275,387 shares of the industrial products company’s stock valued at $8,526,000 after acquiring an additional 5,313 shares in the last quarter. Isthmus Partners LLC raised its holdings in shares of Insteel Industries by 6.8% in the 2nd quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 6,665 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Insteel Industries by 4.8% during the third quarter. Victory Capital Management Inc. now owns 84,767 shares of the industrial products company’s stock worth $2,635,000 after buying an additional 3,886 shares during the period. 83.27% of the stock is owned by institutional investors.

Insteel Industries Stock Up 0.7 %

Shares of NASDAQ IIIN opened at $29.50 on Friday. Insteel Industries, Inc. has a 52 week low of $26.74 and a 52 week high of $39.38. The firm has a market cap of $573.83 million, a P/E ratio of 29.80, a P/E/G ratio of 2.28 and a beta of 1.12. The business’s 50 day moving average price is $29.40 and its 200 day moving average price is $31.05.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The company had revenue of $134.30 million for the quarter, compared to the consensus estimate of $140.40 million. As a group, research analysts expect that Insteel Industries, Inc. will post 1.11 earnings per share for the current year.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be given a $0.03 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Insteel Industries’s dividend payout ratio (DPR) is currently 12.12%.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

Insteel Industries 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.