Insteel Industries, Inc. (NASDAQ:IIIN) Shares Acquired by Isthmus Partners LLC

Isthmus Partners LLC lifted its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 6.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 104,302 shares of the industrial products company’s stock after buying an additional 6,665 shares during the quarter. Isthmus Partners LLC owned approximately 0.54% of Insteel Industries worth $32,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. New York State Common Retirement Fund boosted its position in shares of Insteel Industries by 3.8% during the fourth quarter. New York State Common Retirement Fund now owns 36,582 shares of the industrial products company’s stock worth $1,401,000 after buying an additional 1,336 shares during the period. Russell Investments Group Ltd. raised its holdings in Insteel Industries by 2,097.5% during the 4th quarter. Russell Investments Group Ltd. now owns 62,474 shares of the industrial products company’s stock worth $2,392,000 after buying an additional 59,631 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Insteel Industries by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 160,639 shares of the industrial products company’s stock worth $6,151,000 after purchasing an additional 2,099 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Insteel Industries by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,239,317 shares of the industrial products company’s stock valued at $47,454,000 after buying an additional 7,809 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its holdings in shares of Insteel Industries by 41.9% in the 4th quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock valued at $9,531,000 after purchasing an additional 73,540 shares during the period. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Performance

Shares of NASDAQ IIIN traded down $0.35 during mid-day trading on Friday, reaching $31.29. The company had a trading volume of 86,690 shares, compared to its average volume of 96,416. The stock has a market capitalization of $609.37 million, a PE ratio of 25.23, a price-to-earnings-growth ratio of 2.90 and a beta of 1.11. The stock’s 50 day moving average is $32.21 and its 200-day moving average is $33.21. Insteel Industries, Inc. has a twelve month low of $26.86 and a twelve month high of $39.38.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). The company had revenue of $145.80 million for the quarter, compared to analyst estimates of $153.04 million. Insteel Industries had a net margin of 3.67% and a return on equity of 5.78%. The firm’s quarterly revenue was down 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 EPS. On average, sell-side analysts anticipate that Insteel Industries, Inc. will post 0.99 EPS for the current year.

Insteel Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. Insteel Industries’s payout ratio is 9.68%.

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.