Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by StoneX Group Inc.

StoneX Group Inc. reduced its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 42,005 shares of the industrial products company’s stock after selling 884 shares during the period. StoneX Group Inc. owned approximately 0.22% of Insteel Industries worth $1,135,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of IIIN. Vanguard Group Inc. raised its position in Insteel Industries by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company’s stock valued at $33,523,000 after purchasing an additional 41,908 shares in the last quarter. State Street Corp raised its holdings in Insteel Industries by 4.9% in the third quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock valued at $23,675,000 after acquiring an additional 35,859 shares in the last quarter. American Century Companies Inc. lifted its stake in Insteel Industries by 1.1% in the fourth quarter. American Century Companies Inc. now owns 537,495 shares of the industrial products company’s stock worth $14,518,000 after acquiring an additional 5,935 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in Insteel Industries by 17.8% during the 4th quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company’s stock worth $12,688,000 after acquiring an additional 70,878 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Insteel Industries by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock valued at $13,523,000 after purchasing an additional 3,612 shares during the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Trading Up 0.3 %

Insteel Industries stock opened at $26.38 on Wednesday. The stock has a market cap of $512.57 million, a P/E ratio of 26.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The company has a fifty day simple moving average of $28.34 and a 200-day simple moving average of $28.66. Insteel Industries, Inc. has a 12-month low of $23.60 and a 12-month high of $37.55.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The business had revenue of $129.70 million for the quarter, compared to analyst estimates of $117.45 million. During the same period in the prior year, the company posted $0.06 earnings per share. The company’s revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 0.45%. Insteel Industries’s dividend payout ratio is currently 12.12%.

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.