Linden Thomas Advisory Services LLC Boosts Stock Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Linden Thomas Advisory Services LLC grew its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 26.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,931 shares of the industrial products company’s stock after purchasing an additional 2,079 shares during the period. Linden Thomas Advisory Services LLC owned about 0.05% of Insteel Industries worth $380,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. State Board of Administration of Florida Retirement System purchased a new stake in shares of Insteel Industries in the third quarter valued at approximately $804,000. Pacer Advisors Inc. raised its position in Insteel Industries by 195.2% during the 4th quarter. Pacer Advisors Inc. now owns 728,935 shares of the industrial products company’s stock valued at $27,911,000 after purchasing an additional 482,026 shares in the last quarter. Cerity Partners LLC purchased a new stake in shares of Insteel Industries in the 4th quarter worth $5,501,000. Charles Schwab Investment Management Inc. grew its position in shares of Insteel Industries by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,540 shares of the industrial products company’s stock worth $5,146,000 after buying an additional 6,885 shares in the last quarter. Finally, First Eagle Investment Management LLC increased its stake in shares of Insteel Industries by 39.7% during the third quarter. First Eagle Investment Management LLC now owns 175,387 shares of the industrial products company’s stock valued at $5,693,000 after buying an additional 49,826 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insiders Place Their Bets

In other news, COO Richard Wagner sold 1,715 shares of Insteel Industries stock in a transaction on Friday, March 1st. The stock was sold at an average price of $36.14, for a total value of $61,980.10. Following the transaction, the chief operating officer now directly owns 40,952 shares in the company, valued at approximately $1,480,005.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.60% of the stock is owned by company insiders.

Insteel Industries Price Performance

IIIN stock opened at $32.36 on Friday. Insteel Industries, Inc. has a 1-year low of $26.86 and a 1-year high of $39.38. The business has a 50-day moving average price of $35.49 and a 200 day moving average price of $34.54. The company has a market capitalization of $629.40 million, a P/E ratio of 25.59, a PEG ratio of 2.03 and a beta of 1.14.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, April 25th. The industrial products company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.13. Insteel Industries had a net margin of 4.24% and a return on equity of 6.78%. The business had revenue of $127.40 million for the quarter, compared to the consensus estimate of $134.89 million. During the same quarter last year, the firm posted $0.26 EPS. The company’s revenue for the quarter was down 19.9% on a year-over-year basis. On average, analysts anticipate that Insteel Industries, Inc. will post 1.3 earnings per share for the current fiscal year.

Insteel Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.37%. The ex-dividend date of this dividend was Thursday, March 14th. Insteel Industries’s dividend payout ratio (DPR) is 9.68%.

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.