Kennedy Capital Management LLC Has $476,000 Stock Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Kennedy Capital Management LLC cut its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,609 shares of the industrial products company's stock after selling 57,248 shares during the quarter. Kennedy Capital Management LLC owned about 0.09% of Insteel Industries worth $476,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. BNP Paribas Financial Markets increased its stake 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 valued at $183,000 after acquiring an additional 434 shares during the period. State Street Corp lifted its holdings in Insteel Industries by 4.9% during the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company's stock valued at $23,675,000 after purchasing an additional 35,859 shares during the last quarter. Jane Street Group LLC increased its holdings in shares of Insteel Industries by 228.1% during the third quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company's stock worth $2,017,000 after buying an additional 45,115 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of Insteel Industries by 22.2% in the third quarter. Public Employees Retirement System of Ohio now owns 11,090 shares of the industrial products company's stock valued at $345,000 after acquiring an additional 2,014 shares during the last quarter. Finally, Barclays PLC boosted its holdings in shares of Insteel Industries by 363.7% in the 3rd quarter. Barclays PLC now owns 32,391 shares of the industrial products company's stock worth $1,007,000 after acquiring an additional 25,405 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Stock Performance

Insteel Industries stock traded down $0.69 on Monday, reaching $29.72. The company's stock had a trading volume of 46,722 shares, compared to its average volume of 138,283. The business's fifty day moving average price is $27.54 and its 200 day moving average price is $28.14. The company has a market cap of $577.57 million, a price-to-earnings ratio of 30.27, a PEG ratio of 1.81 and a beta of 0.94. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $35.52.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 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 the consensus estimate of $117.45 million. During the same period in the prior year, the company earned $0.06 EPS. The firm's revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.40%. The ex-dividend date was Friday, March 14th. Insteel Industries's dividend payout ratio (DPR) is presently 12.12%.

About Insteel Industries

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.