Cerity Partners LLC Sells 172,416 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Cerity Partners LLC reduced its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 42.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 235,372 shares of the industrial products company's stock after selling 172,416 shares during the quarter. Cerity Partners LLC owned about 1.21% of Insteel Industries worth $6,357,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Point72 Asset Management L.P. bought a new stake in shares of Insteel Industries during the 3rd quarter valued at approximately $34,000. Smartleaf Asset Management LLC increased its position in Insteel Industries by 535.5% in 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 increased its holdings 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 acquiring an additional 2,498 shares in the last quarter. AlphaQuest LLC bought a new stake in Insteel Industries during the 4th quarter valued at $83,000. Finally, KLP Kapitalforvaltning AS acquired a new stake in shares of Insteel Industries in the 4th quarter worth about $97,000. Institutional investors own 83.27% of the company's stock.

Insteel Industries Stock Up 12.5 %

IIIN stock traded up $3.35 during trading on Thursday, reaching $30.07. The stock had a trading volume of 129,872 shares, compared to its average volume of 137,208. The company has a market capitalization of $584.29 million, a price-to-earnings ratio of 30.37, a P/E/G ratio of 1.81 and a beta of 0.94. The company's 50 day moving average is $27.52 and its two-hundred day moving average is $28.17. Insteel Industries, Inc. has a one year low of $22.49 and a one year high of $35.52.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.09 by ($0.03). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The company had revenue of $129.70 million for the quarter, compared to analysts' expectations of $117.45 million. During the same quarter last year, the business posted $0.06 EPS. The business's quarterly revenue was up 6.5% on a year-over-year basis. As a group, research analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date was Friday, March 14th. Insteel Industries's 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.