Koss Olinger Consulting LLC Sells 716 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Koss Olinger Consulting LLC reduced its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 5.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,796 shares of the industrial products company’s stock after selling 716 shares during the quarter. Koss Olinger Consulting LLC owned 0.07% of Insteel Industries worth $346,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of IIIN. Point72 Asset Management L.P. acquired a new position in Insteel Industries during the 3rd quarter valued at $34,000. Point72 DIFC Ltd acquired a new position in Insteel Industries during the 3rd quarter valued at $37,000. Smartleaf Asset Management LLC raised its stake in Insteel Industries by 535.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,660 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in Insteel Industries by 3,568.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 2,498 shares during the last quarter. Finally, AlphaQuest LLC acquired a new position in shares of Insteel Industries in the 4th quarter valued at $83,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of IIIN stock opened at $28.00 on Thursday. Insteel Industries, Inc. has a 52-week low of $23.60 and a 52-week high of $38.40. The stock has a market cap of $544.07 million, a price-to-earnings ratio of 28.28, a P/E/G ratio of 1.81 and a beta of 1.13. The firm has a fifty day moving average of $28.04 and a 200-day moving average of $28.94.

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 analysts’ consensus estimates of $0.09 by ($0.03). Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The business had revenue of $129.70 million during the quarter, compared to analyst estimates of $117.45 million. During the same quarter in the prior year, the company posted $0.06 EPS. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date is Friday, March 14th. Insteel Industries’s dividend payout ratio is 12.12%.

About Insteel Industries

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.