Jacobs Levy Equity Management Inc. Purchases 43,846 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Jacobs Levy Equity Management Inc. grew its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 43.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,264 shares of the industrial products company's stock after purchasing an additional 43,846 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.75% of Insteel Industries worth $4,516,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Paloma Partners Management Co acquired a new stake in Insteel Industries during the third quarter valued at approximately $205,000. Verition Fund Management LLC acquired a new stake in shares of Insteel Industries during the third quarter worth $227,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Insteel Industries by 100.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company's stock valued at $175,000 after buying an additional 2,812 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Insteel Industries by 8.0% in the third quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company's stock worth $183,000 after acquiring an additional 434 shares during the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Insteel Industries during the 3rd quarter worth approximately $121,000. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Price Performance

Shares of IIIN traded down $0.08 during trading hours on Friday, reaching $29.50. 76,300 shares of the company's stock traded hands, compared to its average volume of 104,105. Insteel Industries, Inc. has a twelve month low of $26.74 and a twelve month high of $39.38. The firm has a market capitalization of $573.78 million, a price-to-earnings ratio of 29.96, a P/E/G ratio of 2.23 and a beta of 1.11. The business's fifty day simple moving average is $29.26 and its two-hundred day simple moving average is $30.90.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last announced its earnings results on Thursday, October 17th. The industrial products company reported $0.24 EPS for the quarter, hitting the consensus estimate of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The firm had revenue of $134.30 million for the quarter, compared to analysts' expectations of $140.40 million. On average, equities research analysts expect 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 given a dividend of $0.03 per share. The ex-dividend date is Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.41%. Insteel Industries's dividend payout ratio (DPR) is presently 12.12%.

Wall Street Analysts Forecast Growth

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

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.