First Eagle Investment Management LLC Has $12.69 Million Position in Insteel Industries, Inc. (NASDAQ:IIIN)

First Eagle Investment Management LLC grew its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 17.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 469,752 shares of the industrial products company's stock after purchasing an additional 70,878 shares during the quarter. First Eagle Investment Management LLC owned approximately 2.42% of Insteel Industries worth $12,688,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Cerity Partners LLC increased its position in Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company's stock worth $12,678,000 after acquiring an additional 232,514 shares during the period. Bank of New York Mellon Corp increased its position in Insteel Industries by 36.5% during the fourth quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company's stock worth $6,794,000 after acquiring an additional 67,244 shares during the period. Wealthfront Advisers LLC bought a new position in Insteel Industries during the fourth quarter worth about $1,369,000. Jane Street Group LLC increased its position in Insteel Industries by 228.1% during the third quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company's stock worth $2,017,000 after acquiring an additional 45,115 shares during the period. Finally, Jacobs Levy Equity Management Inc. increased its position in Insteel Industries by 43.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 145,264 shares of the industrial products company's stock worth $4,516,000 after acquiring an additional 43,846 shares during the period. 83.27% of the stock is owned by institutional investors.

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Insteel Industries Trading Up 1.9 %

IIIN stock traded up $0.52 during mid-day trading on Wednesday, hitting $28.00. The stock had a trading volume of 147,259 shares, compared to its average volume of 121,395. Insteel Industries, Inc. has a 52 week low of $23.60 and a 52 week high of $38.40. The firm has a market capitalization of $544.07 million, a P/E ratio of 28.28, a P/E/G ratio of 1.81 and a beta of 1.13. The firm has a fifty day simple moving average of $27.97 and a 200 day simple moving average of $28.95.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing the consensus estimate 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 prior year, the business earned $0.06 earnings per share. Insteel Industries's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts expect that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date of this dividend is Friday, March 14th. Insteel Industries's dividend payout ratio is currently 12.12%.

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.