Campbell & CO Investment Adviser LLC Takes Position in Insteel Industries, Inc. $IIIN

Campbell & CO Investment Adviser LLC acquired a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 27,547 shares of the industrial products company’s stock, valued at approximately $1,025,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Insteel Industries by 44.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 989,138 shares of the industrial products company’s stock worth $26,014,000 after buying an additional 304,671 shares in the last quarter. Invenomic Capital Management LP lifted its holdings in Insteel Industries by 63.4% in the 1st quarter. Invenomic Capital Management LP now owns 351,653 shares of the industrial products company’s stock valued at $9,248,000 after purchasing an additional 136,494 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Insteel Industries during the 1st quarter worth about $2,890,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Insteel Industries by 36.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 253,706 shares of the industrial products company’s stock worth $6,672,000 after purchasing an additional 67,422 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Insteel Industries by 5.4% during the first quarter. Vanguard Group Inc. now owns 1,308,508 shares of the industrial products company’s stock worth $34,414,000 after buying an additional 67,377 shares in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

NASDAQ:IIIN opened at $32.41 on Thursday. The firm has a market cap of $629.29 million, a PE ratio of 32.74, a P/E/G ratio of 1.81 and a beta of 0.83. The firm has a 50 day simple moving average of $35.48 and a 200-day simple moving average of $36.18. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $41.64.

Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 16th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.Insteel Industries’s revenue for the quarter was up 32.0% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, sell-side analysts expect that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 28th will be issued a dividend of $1.00 per share. The ex-dividend date is Friday, November 28th. This represents a $4.00 annualized dividend and a dividend yield of 12.3%. Insteel Industries’s dividend payout ratio (DPR) is 5.71%.

Insider Activity at Insteel Industries

In related news, SVP James R. York sold 3,000 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $38.50, for a total value of $115,500.00. Following the completion of the transaction, the senior vice president directly owned 9,443 shares in the company, valued at approximately $363,555.50. This represents a 24.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Insteel Industries 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.