Swiss National Bank Sells 600 Shares of Insteel Industries, Inc. $IIIN

Swiss National Bank decreased its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 37,700 shares of the industrial products company’s stock after selling 600 shares during the period. Swiss National Bank owned 0.19% of Insteel Industries worth $992,000 at the end of the most recent quarter.

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

Insteel Industries Trading Up 0.8%

Shares of IIIN opened at $38.75 on Wednesday. Insteel Industries, Inc. has a 1 year low of $22.49 and a 1 year high of $41.64. The stock has a market cap of $752.14 million, a P/E ratio of 39.14, a price-to-earnings-growth ratio of 1.81 and a beta of 0.74. The stock’s 50-day moving average price is $37.11 and its two-hundred day moving average price is $33.11.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, July 17th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.09. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.During the same quarter in the previous year, the company earned $0.34 EPS. The business’s revenue for the quarter was up 23.4% compared to the same quarter last year. As a group, equities analysts forecast that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, September 12th will be issued a dividend of $0.03 per share. The ex-dividend date is Friday, September 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Insteel Industries’s dividend payout ratio (DPR) is 7.50%.

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.