Russell Investments Group Ltd. Purchases 33,264 Shares of Insteel Industries, Inc. $IIIN

Russell Investments Group Ltd. boosted its position in Insteel Industries, Inc. (NASDAQ:IIINFree Report) by 85.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 72,268 shares of the industrial products company’s stock after purchasing an additional 33,264 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.37% of Insteel Industries worth $1,901,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. CWM LLC raised its holdings in Insteel Industries by 150.9% in the first quarter. CWM LLC now owns 4,744 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 2,853 shares in the last quarter. State of Wyoming raised its holdings in Insteel Industries by 76.4% in the fourth quarter. State of Wyoming now owns 5,554 shares of the industrial products company’s stock worth $150,000 after purchasing an additional 2,406 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Insteel Industries during the first quarter valued at $200,000. Marshall Wace LLP purchased a new position in shares of Insteel Industries in the 4th quarter worth about $257,000. Finally, BNP Paribas Financial Markets raised its position in shares of Insteel Industries by 67.7% in the 4th quarter. BNP Paribas Financial Markets now owns 9,869 shares of the industrial products company’s stock worth $267,000 after purchasing an additional 3,984 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

IIIN opened at $38.75 on Wednesday. The stock has a 50-day moving average price of $37.11 and a 200-day moving average price of $33.11. The firm has a market cap of $752.14 million, a PE ratio of 39.14, a P/E/G ratio of 1.81 and a beta of 0.74. Insteel Industries, Inc. has a 1 year low of $22.49 and a 1 year high of $41.64.

Insteel Industries (NASDAQ:IIINGet Free Report) last posted its quarterly earnings results on Thursday, July 17th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.09. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.The company’s revenue was up 23.4% compared to the same quarter last year. During the same period last year, the firm posted $0.34 earnings per share. As a group, sell-side analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 26th. Stockholders of record on Friday, September 12th will be given a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Friday, September 12th. Insteel Industries’s payout ratio is currently 7.50%.

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.

See Also

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

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