Pacer Advisors Inc. increased its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662,775 shares of the industrial products company's stock after purchasing an additional 22,543 shares during the period. Pacer Advisors Inc. owned 3.41% of Insteel Industries worth $20,606,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the business. American Century Companies Inc. boosted its stake in shares of Insteel Industries by 14.6% in the second quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company's stock valued at $14,480,000 after buying an additional 59,591 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Insteel Industries by 26.8% during 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 acquiring an additional 74,791 shares in the last quarter. Oppenheimer & Co. Inc. raised its position in Insteel Industries by 2.0% during the second quarter. Oppenheimer & Co. Inc. now owns 275,387 shares of the industrial products company's stock worth $8,526,000 after acquiring an additional 5,313 shares during the last quarter. Robotti Robert lifted its holdings in shares of Insteel Industries by 6.2% in the first quarter. Robotti Robert now owns 262,780 shares of the industrial products company's stock valued at $10,043,000 after purchasing an additional 15,415 shares in the last quarter. Finally, Isthmus Partners LLC grew its position in shares of Insteel Industries by 6.8% in the second quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company's stock valued at $32,000 after purchasing an additional 6,665 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.
Insteel Industries Stock Performance
Shares of NASDAQ:IIIN traded up $0.36 during midday trading on Friday, hitting $30.47. 94,796 shares of the company's stock traded hands, compared to its average volume of 105,439. The firm's fifty day moving average price is $29.58 and its two-hundred day moving average price is $31.13. Insteel Industries, Inc. has a twelve month low of $26.74 and a twelve month high of $39.38. The company has a market cap of $592.64 million, a PE ratio of 30.41, a P/E/G ratio of 2.26 and a beta of 1.12.
Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The company had revenue of $134.30 million for the quarter, compared to analysts' expectations of $140.40 million. 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 business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, November 29th. Insteel Industries's dividend payout ratio is presently 12.12%.
Analysts Set New Price Targets
Separately, StockNews.com lowered shares of Insteel Industries from a "buy" rating to a "hold" rating in a research report on Saturday, October 26th.
Check Out Our Latest Research Report on IIIN
About Insteel Industries
(
Free Report)
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.
Featured Stories
Before you consider Insteel Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Insteel Industries wasn't on the list.
While Insteel Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Options trading isn’t just for the Wall Street elite; it’s an accessible strategy for anyone armed with the proper knowledge. Think of options as a strategic toolkit, with each tool designed for a specific financial task. Keep reading to learn how options trading can help you use the market’s volatility to your advantage.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
