Isthmus Partners LLC Acquires 8,609 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Isthmus Partners LLC raised its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 10.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 91,243 shares of the industrial products company’s stock after purchasing an additional 8,609 shares during the period. Isthmus Partners LLC owned approximately 0.47% of Insteel Industries worth $2,464,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in IIIN. Barclays PLC boosted its stake in Insteel Industries by 363.7% in the third quarter. Barclays PLC now owns 32,391 shares of the industrial products company’s stock worth $1,007,000 after purchasing an additional 25,405 shares in the last quarter. State Street Corp increased its position in shares of Insteel Industries by 4.9% in the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock valued at $23,675,000 after buying an additional 35,859 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Insteel Industries by 0.8% during the third quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock worth $13,523,000 after purchasing an additional 3,612 shares during the period. Intech Investment Management LLC bought a new position in Insteel Industries in the third quarter valued at approximately $690,000. Finally, Jane Street Group LLC boosted its stake in Insteel Industries by 228.1% in the 3rd quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company’s stock worth $2,017,000 after purchasing an additional 45,115 shares during the period. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Stock Up 1.7 %

NASDAQ IIIN opened at $27.65 on Monday. The company has a market capitalization of $537.34 million, a PE ratio of 27.93, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. Insteel Industries, Inc. has a 12-month low of $23.60 and a 12-month high of $38.40. The firm’s 50 day moving average is $27.88 and its 200-day moving average is $29.28.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The firm had revenue of $129.70 million during the quarter, compared to the consensus estimate of $117.45 million. During the same period in the previous year, the company posted $0.06 earnings per share. The firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Investors of record on Friday, March 14th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 0.43%. Insteel Industries’s dividend payout ratio is 12.12%.

About Insteel Industries

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.