Citadel Advisors LLC grew its stake in Insteel Industries Inc (NASDAQ:IIIN) by 343.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 72,502 shares of the industrial products company’s stock after purchasing an additional 56,139 shares during the period. Citadel Advisors LLC owned approximately 0.38% of Insteel Industries worth $1,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in IIIN. Russell Investments Group Ltd. boosted its holdings in shares of Insteel Industries by 18.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 38,350 shares of the industrial products company’s stock worth $1,264,000 after acquiring an additional 5,854 shares in the last quarter. Great West Life Assurance Co. Can lifted its holdings in Insteel Industries by 6.5% during the 2nd quarter. Great West Life Assurance Co. Can now owns 26,384 shares of the industrial products company’s stock worth $868,000 after buying an additional 1,600 shares in the last quarter. Texas Permanent School Fund lifted its holdings in Insteel Industries by 1.1% during the 2nd quarter. Texas Permanent School Fund now owns 12,779 shares of the industrial products company’s stock worth $421,000 after buying an additional 134 shares in the last quarter. Sei Investments Co. lifted its holdings in Insteel Industries by 970.9% during the 2nd quarter. Sei Investments Co. now owns 13,643 shares of the industrial products company’s stock worth $450,000 after buying an additional 12,369 shares in the last quarter. Finally, Forward Management LLC lifted its holdings in Insteel Industries by 27.7% during the 2nd quarter. Forward Management LLC now owns 5,964 shares of the industrial products company’s stock worth $197,000 after buying an additional 1,295 shares in the last quarter. Institutional investors own 81.06% of the company’s stock.

Insteel Industries Inc (IIIN) opened at $27.82 on Tuesday. Insteel Industries Inc has a 1-year low of $23.20 and a 1-year high of $40.47. The stock has a market capitalization of $520.20, a price-to-earnings ratio of 23.15 and a beta of 2.11.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.20 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.05). The firm had revenue of $96.89 million for the quarter, compared to analyst estimates of $96.25 million. Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The firm’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.51 EPS.

The business also recently declared a special dividend, which will be paid on Friday, January 5th. Stockholders of record on Wednesday, December 20th will be paid a $1.00 dividend. This represents a dividend yield of 0.44%. The ex-dividend date of this dividend is Tuesday, December 19th. Insteel Industries’s dividend payout ratio (DPR) is currently 10.17%.

Several research analysts have issued reports on the company. Longbow Research downgraded Insteel Industries from a “buy” rating to a “neutral” rating in a report on Friday, August 25th. TheStreet downgraded Insteel Industries from a “b-” rating to a “c+” rating in a report on Thursday, October 19th. Finally, BidaskClub downgraded Insteel Industries from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have assigned a buy rating to the stock. Insteel Industries currently has an average rating of “Hold”.

In other news, VP James F. Petelle sold 1,000 shares of the stock in a transaction on Tuesday, October 24th. The stock was sold at an average price of $27.11, for a total value of $27,110.00. Following the transaction, the vice president now owns 14,788 shares of the company’s stock, valued at approximately $400,902.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 5.70% of the company’s stock.

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Insteel Industries Company Profile

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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