Insteel Industries, Inc. (NYSE:IIIN) Short Interest Update

Insteel Industries, Inc. (NYSE:IIIN) was the target of a large increase in short interest in February. As of February 27th, there was short interest totaling 547,090 shares, an increase of 17.0% from the February 12th total of 467,738 shares. Based on an average daily trading volume, of 108,667 shares, the short-interest ratio is presently 5.0 days. Approximately 3.0% of the shares of the stock are short sold. Approximately 3.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 108,667 shares, the short-interest ratio is presently 5.0 days.

Insider Buying and Selling

In other news, COO Richard Wagner sold 1,679 shares of the stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $37.67, for a total value of $63,247.93. Following the transaction, the chief operating officer owned 40,000 shares of the company’s stock, valued at $1,506,800. This represents a 4.03% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Insteel Industries

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC boosted its position in Insteel Industries by 12.4% during the first quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock valued at $4,101,000 after buying an additional 17,168 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Insteel Industries in the first quarter worth about $225,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Insteel Industries in the second quarter worth about $768,000. Geode Capital Management LLC lifted its stake in shares of Insteel Industries by 0.4% in the 2nd quarter. Geode Capital Management LLC now owns 448,861 shares of the company’s stock valued at $16,704,000 after acquiring an additional 1,919 shares during the last quarter. Finally, Police & Firemen s Retirement System of New Jersey boosted its holdings in Insteel Industries by 24.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,715 shares of the company’s stock valued at $175,000 after acquiring an additional 922 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen downgraded shares of Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, Insteel Industries currently has an average rating of “Hold”.

Insteel Industries Trading Down 1.1%

Shares of NYSE IIIN opened at $31.89 on Thursday. The stock’s 50-day moving average is $34.80 and its 200 day moving average is $34.27. The stock has a market cap of $618.57 million, a price-to-earnings ratio of 13.12, a P/E/G ratio of 0.88 and a beta of 0.79. Insteel Industries has a 1-year low of $22.49 and a 1-year high of $41.64.

Insteel Industries (NYSE:IIIN) last issued its earnings results on Thursday, January 15th. The company reported $0.39 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.06. Insteel Industries had a return on equity of 13.51% and a net margin of 7.01%.During the same period last year, the company earned $0.06 earnings per share. The business’s revenue was up 23.3% compared to the same quarter last year.

Insteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Insteel Industries’s dividend payout ratio is 4.94%.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.