Louisiana State Employees Retirement System Makes New $247,000 Investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Louisiana State Employees Retirement System purchased a new position in Insteel Industries, Inc. (NASDAQ:IIINGet Rating) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund purchased 9,300 shares of the industrial products company’s stock, valued at approximately $247,000.

Other institutional investors also recently added to or reduced their stakes in the company. Point72 Hong Kong Ltd bought a new position in Insteel Industries in the 2nd quarter worth approximately $38,000. Gladius Capital Management LP bought a new position in Insteel Industries in the 2nd quarter worth approximately $40,000. KBC Group NV bought a new position in Insteel Industries in the 2nd quarter worth approximately $55,000. Mutual of America Capital Management LLC increased its position in Insteel Industries by 16.7% in the 2nd quarter. Mutual of America Capital Management LLC now owns 3,265 shares of the industrial products company’s stock worth $110,000 after buying an additional 468 shares during the period. Finally, Quantbot Technologies LP bought a new stake in shares of Insteel Industries during the second quarter valued at approximately $175,000. 77.23% of the stock is owned by institutional investors.

Insteel Industries Trading Up 1.9 %

IIIN opened at $31.37 on Friday. The stock has a market cap of $610.18 million, a PE ratio of 4.92 and a beta of 1.14. Insteel Industries, Inc. has a 1 year low of $24.00 and a 1 year high of $47.70. The stock’s 50 day simple moving average is $27.92 and its 200-day simple moving average is $29.36.

Insteel Industries (NASDAQ:IIINGet Rating) last announced its quarterly earnings results on Thursday, October 20th. The industrial products company reported $1.24 EPS for the quarter. The business had revenue of $207.99 million for the quarter. Insteel Industries had a return on equity of 36.61% and a net margin of 15.12%.

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 23rd. Investors of record on Friday, December 9th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Thursday, December 8th. Insteel Industries’s dividend payout ratio is 1.88%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on IIIN. StockNews.com cut Insteel Industries from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Sidoti upgraded Insteel Industries from a “neutral” rating to a “buy” rating in a research report on Thursday, October 13th.

Insteel Industries Company Profile

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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.

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

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