Renaissance Technologies LLC Acquires 29,200 Shares of Insteel Industries, Inc. $IIIN

Renaissance Technologies LLC grew its holdings in shares of Insteel Industries, Inc. (NYSE:IIIN) by 37.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,940 shares of the company’s stock after buying an additional 29,200 shares during the quarter. Renaissance Technologies LLC owned 0.55% of Insteel Industries worth $3,594,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in IIIN. Vanguard Group Inc. lifted its position in Insteel Industries by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 1,415,156 shares of the company’s stock valued at $44,818,000 after acquiring an additional 17,660 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Insteel Industries by 2.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,087,782 shares of the company’s stock worth $36,559,000 after purchasing an additional 24,429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Insteel Industries by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 990,770 shares of the company’s stock worth $37,986,000 after purchasing an additional 11,931 shares during the last quarter. State Street Corp raised its stake in shares of Insteel Industries by 0.5% in the fourth quarter. State Street Corp now owns 727,168 shares of the company’s stock worth $23,029,000 after purchasing an additional 3,919 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Insteel Industries by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 484,466 shares of the company’s stock valued at $15,345,000 after purchasing an additional 2,830 shares in the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Stock Down 0.0%

IIIN stock opened at $32.31 on Friday. The firm has a market cap of $625.60 million, a PE ratio of 17.37, a P/E/G ratio of 1.69 and a beta of 0.50. The business has a 50 day moving average of $30.03 and a 200-day moving average of $31.32. Insteel Industries, Inc. has a 12-month low of $24.35 and a 12-month high of $39.91.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings results on Thursday, July 16th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $197.66 million for the quarter. Insteel Industries had a return on equity of 9.92% and a net margin of 5.14%.During the same quarter last year, the business posted $0.78 earnings per share. On average, research analysts expect that Insteel Industries, Inc. will post 1.59 earnings per share for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Friday, June 12th. Insteel Industries’s payout ratio is 6.45%.

Wall Street Analyst Weigh In

IIIN has been the topic of several analyst reports. Wall Street Zen raised Insteel Industries from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Weiss Ratings raised Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday. Finally, Zacks Research upgraded Insteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. One analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy”.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.