Semanteon Capital Management LP Acquires Shares of 10,004 Insteel Industries, Inc. (NASDAQ:IIIN)

Semanteon Capital Management LP bought a new stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 10,004 shares of the industrial products company's stock, valued at approximately $270,000. Semanteon Capital Management LP owned 0.05% of Insteel Industries as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Cerity Partners LLC increased its position in Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company's stock worth $12,678,000 after buying an additional 232,514 shares during the last quarter. First Eagle Investment Management LLC increased its holdings in shares of Insteel Industries by 17.8% during the 4th quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company's stock worth $12,688,000 after acquiring an additional 70,878 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Insteel Industries by 36.5% during the 4th quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company's stock worth $6,794,000 after acquiring an additional 67,244 shares during the last quarter. Wealthfront Advisers LLC bought a new stake in Insteel Industries in the 4th quarter valued at $1,369,000. Finally, Jane Street Group LLC lifted its holdings in Insteel Industries by 228.1% during the 3rd quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company's stock valued at $2,017,000 after purchasing an additional 45,115 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

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Insteel Industries Stock Down 0.5 %

Shares of IIIN traded down $0.15 during trading hours on Wednesday, hitting $27.84. The company had a trading volume of 86,852 shares, compared to its average volume of 124,460. The firm has a market cap of $540.98 million, a price-to-earnings ratio of 28.12, a PEG ratio of 1.81 and a beta of 1.13. The business has a fifty day moving average of $28.30 and a 200-day moving average of $28.79. Insteel Industries, Inc. has a 12 month low of $23.60 and a 12 month high of $38.40.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $117.45 million. During the same quarter last year, the business earned $0.06 earnings per share. The company's revenue was up 6.5% on a year-over-year basis. On average, equities analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. The ex-dividend date is Friday, March 14th. Insteel Industries's dividend payout ratio is 12.12%.

Insteel Industries 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.