Wealthfront Advisers LLC Purchases Shares of 50,673 Insteel Industries, Inc. (NASDAQ:IIIN)

Wealthfront Advisers LLC purchased a new stake in Insteel Industries, Inc. (NASDAQ:IIIN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 50,673 shares of the industrial products company’s stock, valued at approximately $1,369,000. Wealthfront Advisers LLC owned 0.26% of Insteel Industries at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. BNP Paribas Financial Markets grew its holdings in shares of Insteel Industries by 8.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 434 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Insteel Industries by 7.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company’s stock valued at $273,000 after acquiring an additional 690 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Insteel Industries in the 3rd quarter valued at about $34,000. Point72 DIFC Ltd bought a new position in shares of Insteel Industries in the 3rd quarter valued at about $37,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Insteel Industries by 535.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock valued at $53,000 after acquiring an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Price Performance

Shares of NASDAQ IIIN opened at $27.02 on Friday. The stock has a market capitalization of $524.97 million, a price-to-earnings ratio of 27.29, a PEG ratio of 1.81 and a beta of 1.13. The business has a 50-day moving average of $27.90 and a 200-day moving average of $29.08. Insteel Industries, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $38.40.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $117.45 million. During the same quarter in the previous year, the business posted $0.06 EPS. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, March 14th. Insteel Industries’s 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.