Isthmus Partners LLC Trims Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Isthmus Partners LLC cut its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 20.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,634 shares of the industrial products company's stock after selling 21,668 shares during the quarter. Isthmus Partners LLC owned 0.42% of Insteel Industries worth $2,569,000 as of its most recent filing with the Securities & Exchange Commission.

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

Analyst Ratings Changes

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

Insteel Industries Stock Up 0.7 %

Insteel Industries stock traded up $0.21 during trading on Friday, hitting $29.50. The stock had a trading volume of 77,779 shares, compared to its average volume of 106,381. The stock's 50 day moving average is $29.40 and its two-hundred day moving average is $31.05. Insteel Industries, Inc. has a 1 year low of $26.74 and a 1 year high of $39.38. The stock has a market cap of $573.78 million, a price-to-earnings ratio of 30.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.12.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.24 EPS for the quarter, meeting analysts' consensus estimates of $0.24. The firm had revenue of $134.30 million for the quarter, compared to analysts' expectations 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 research analysts anticipate that Insteel Industries, Inc. will post 1.11 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders 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 yield of 0.41%. Insteel Industries's dividend payout ratio is presently 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.