22,195 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Purchased by Intech Investment Management LLC

Intech Investment Management LLC purchased a new stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 22,195 shares of the industrial products company's stock, valued at approximately $690,000. Intech Investment Management LLC owned about 0.11% of Insteel Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in IIIN. Linden Thomas Advisory Services LLC grew its position in Insteel Industries by 10.1% in the second quarter. Linden Thomas Advisory Services LLC now owns 12,887 shares of the industrial products company's stock worth $399,000 after acquiring an additional 1,180 shares during the period. Cardinal Capital Management grew its position in Insteel Industries by 5.0% in the second quarter. Cardinal Capital Management now owns 30,571 shares of the industrial products company's stock worth $946,000 after acquiring an additional 1,453 shares during the period. Ellsworth Advisors LLC purchased a new position in Insteel Industries in the second quarter worth approximately $477,000. Hantz Financial Services Inc. purchased a new position in Insteel Industries in the second quarter worth approximately $270,000. Finally, nVerses Capital LLC purchased a new position in Insteel Industries in the second quarter worth approximately $121,000. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Stock Up 0.7 %

IIIN opened at $29.50 on Friday. The firm has a market cap of $573.83 million, a P/E ratio of 29.80, a P/E/G ratio of 2.28 and a beta of 1.12. The business has a fifty day simple moving average of $29.40 and a 200-day simple moving average of $31.05. Insteel Industries, Inc. has a 52 week low of $26.74 and a 52 week high of $39.38.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The firm had revenue of $134.30 million during the quarter, compared to analyst estimates of $140.40 million. Sell-side analysts expect that Insteel Industries, Inc. will post 1.11 earnings per share for the current year.

Insteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. The ex-dividend date of this dividend is Friday, November 29th. Insteel Industries's dividend payout ratio (DPR) is currently 12.12%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Insteel Industries from a "buy" rating to a "hold" rating in a research report on Saturday, October 26th.

Insteel Industries Company 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.