Tredje AP fonden Buys New Position in Insteel Industries, Inc. $IIIN

Tredje AP fonden bought a new position in Insteel Industries, Inc. (NASDAQ:IIIN) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 21,711 shares of the industrial products company’s stock, valued at approximately $832,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Isthmus Partners LLC raised its stake in Insteel Industries by 3.7% during the third quarter. Isthmus Partners LLC now owns 98,226 shares of the industrial products company’s stock worth $3,766,000 after purchasing an additional 3,472 shares during the period. SG Capital Management LLC acquired a new position in Insteel Industries in the 3rd quarter worth $3,264,000. GSA Capital Partners LLP increased its holdings in Insteel Industries by 234.8% in the third quarter. GSA Capital Partners LLP now owns 36,275 shares of the industrial products company’s stock valued at $1,391,000 after buying an additional 25,440 shares during the last quarter. Vanguard Group Inc. raised its stake in Insteel Industries by 4.2% during the third quarter. Vanguard Group Inc. now owns 1,397,496 shares of the industrial products company’s stock valued at $53,580,000 after buying an additional 55,712 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in Insteel Industries by 5.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 9,421 shares of the industrial products company’s stock worth $361,000 after buying an additional 508 shares during the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

NASDAQ IIIN opened at $38.09 on Monday. Insteel Industries, Inc. has a one year low of $22.49 and a one year high of $41.64. The company has a 50-day simple moving average of $33.98 and a 200-day simple moving average of $34.60. The firm has a market capitalization of $738.79 million, a PE ratio of 38.47, a price-to-earnings-growth ratio of 1.81 and a beta of 0.84.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 15th. The industrial products company reported $0.39 EPS for the quarter, beating the consensus estimate of $0.33 by $0.06. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.Insteel Industries’s quarterly revenue was up 23.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.06 earnings per share. Equities analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 27th. Stockholders of record on Friday, March 13th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, March 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Insteel Industries’s dividend payout ratio is currently 4.94%.

Insteel Industries Profile

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.