Cerity Partners LLC raised its holdings in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 132.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,788 shares of the industrial products company's stock after buying an additional 232,514 shares during the period. Cerity Partners LLC owned about 2.10% of Insteel Industries worth $12,678,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently bought and sold shares of IIIN. nVerses Capital LLC acquired a new stake in shares of Insteel Industries during the second quarter worth about $121,000. The Manufacturers Life Insurance Company raised its position in Insteel Industries by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company's stock worth $236,000 after acquiring an additional 585 shares during the last quarter. Hantz Financial Services Inc. acquired a new position in Insteel Industries during the second quarter worth about $270,000. Versor Investments LP acquired a new position in Insteel Industries during the third quarter worth about $289,000. Finally, Linden Thomas Advisory Services LLC raised its position in Insteel Industries by 10.1% during 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 last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Insteel Industries Stock Down 1.0 %
Shares of NASDAQ:IIIN traded down $0.30 during trading on Tuesday, reaching $30.65. The stock had a trading volume of 85,204 shares, compared to its average volume of 106,245. The business has a fifty day moving average price of $29.55 and a 200-day moving average price of $31.08. The stock has a market cap of $596.20 million, a P/E ratio of 31.26, a PEG ratio of 2.29 and a beta of 1.12. Insteel Industries, Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $39.38.
Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, meeting analysts' consensus estimates of $0.24. The business had revenue of $134.30 million during the quarter, compared to analyst estimates of $140.40 million. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. As a group, equities analysts forecast that Insteel Industries, Inc. will post 1.11 EPS for the current year.
Insteel Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 29th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. Insteel Industries's dividend payout ratio is presently 12.12%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of Insteel Industries from a "buy" rating to a "hold" rating in a research report on Saturday, October 26th.
Check Out Our Latest Stock Report on IIIN
Insteel Industries Company Profile
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Free Report)
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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