Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 20.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,710 shares of the industrial products company's stock after selling 56,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 1.16% of Insteel Industries worth $6,986,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the business. Pacer Advisors Inc. grew its stake in Insteel Industries by 3.5% in the third quarter. Pacer Advisors Inc. now owns 662,775 shares of the industrial products company's stock worth $20,606,000 after purchasing an additional 22,543 shares in the last quarter. American Century Companies Inc. grew its position in shares of Insteel Industries by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company's stock worth $14,480,000 after acquiring an additional 59,591 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Insteel Industries by 132.7% in the 3rd quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company's stock valued at $12,678,000 after acquiring an additional 232,514 shares during the last quarter. First Eagle Investment Management LLC raised its position in shares of Insteel Industries by 26.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company's stock valued at $10,954,000 after acquiring an additional 74,791 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Insteel Industries by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 275,387 shares of the industrial products company's stock worth $8,526,000 after purchasing an additional 5,313 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Analyst Upgrades and Downgrades

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

Insteel Industries Trading Down 0.3 %

NASDAQ IIIN traded down $0.08 during trading hours on Friday, reaching $29.50. The company's stock had a trading volume of 76,300 shares, compared to its average volume of 106,189. The business has a 50-day simple moving average of $29.29 and a 200 day simple moving average of $30.92. Insteel Industries, Inc. has a 52 week low of $26.74 and a 52 week high of $39.38. The stock has a market cap of $573.78 million, a PE ratio of 29.68, a PEG ratio of 2.23 and a beta of 1.11.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last announced its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.24. The business had revenue of $134.30 million for the quarter, compared to the consensus estimate of $140.40 million. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. As a group, equities analysts predict that Insteel Industries, Inc. will post 1.11 EPS for the current year.

Insteel Industries Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.41%. Insteel Industries's dividend payout ratio is currently 12.12%.

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.