Vanguard Group Inc. Buys 41,908 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Vanguard Group Inc. lifted its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,241,131 shares of the industrial products company’s stock after acquiring an additional 41,908 shares during the quarter. Vanguard Group Inc. owned about 6.39% of Insteel Industries worth $33,523,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in IIIN. Smartleaf Asset Management LLC boosted its position in Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,660 shares during the period. Nisa Investment Advisors LLC boosted its holdings in Insteel Industries by 3,568.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 2,498 shares during the period. AlphaQuest LLC acquired a new stake in shares of Insteel Industries in the fourth quarter valued at about $83,000. KLP Kapitalforvaltning AS bought a new position in shares of Insteel Industries in the fourth quarter worth about $97,000. Finally, BNP Paribas Financial Markets lifted its position in shares of Insteel Industries by 8.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 434 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Up 1.6 %

Shares of NASDAQ:IIIN opened at $26.70 on Monday. The company has a market cap of $518.75 million, a price-to-earnings ratio of 26.97, a PEG ratio of 1.81 and a beta of 0.94. The business has a 50 day moving average price of $27.60 and a 200 day moving average price of $28.22. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $35.52.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The company had revenue of $129.70 million during the quarter, compared to analyst estimates of $117.45 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue was up 6.5% on a year-over-year basis. Analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, March 14th. Insteel Industries’s dividend payout ratio is currently 12.12%.

Insteel Industries Company 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.