Intech Investment Management LLC Grows Stake in Insteel Industries, Inc. (NASDAQ:IIIN)

Intech Investment Management LLC increased its position in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 165.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 58,824 shares of the industrial products company's stock after buying an additional 36,629 shares during the period. Intech Investment Management LLC owned about 0.30% of Insteel Industries worth $1,589,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of IIIN. Point72 Asset Management L.P. bought a new position in shares of Insteel Industries in the third quarter worth about $34,000. Point72 DIFC Ltd bought a new position in Insteel Industries in the 3rd quarter worth approximately $37,000. Smartleaf Asset Management LLC grew its holdings in Insteel Industries by 535.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock valued at $53,000 after buying an additional 1,660 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Insteel Industries by 3,568.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock valued at $69,000 after buying an additional 2,498 shares during the last quarter. Finally, AlphaQuest LLC purchased a new position in shares of Insteel Industries in the fourth quarter worth $83,000. Hedge funds and other institutional investors own 83.27% of the company's stock.

Insteel Industries Trading Down 0.5 %

IIIN traded down $0.15 during trading on Wednesday, hitting $27.84. 86,852 shares of the company traded hands, compared to its average volume of 124,460. The company has a market cap of $540.98 million, a PE ratio of 28.12, a P/E/G ratio of 1.81 and a beta of 1.13. The stock's 50-day simple moving average is $28.30 and its two-hundred day simple moving average is $28.79. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40.

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Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its quarterly earnings data 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 company had revenue of $129.70 million for the quarter, compared to the consensus estimate of $117.45 million. During the same period last year, the company earned $0.06 EPS. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Announces Dividend

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