34,408 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Acquired by Teacher Retirement System of Texas

Teacher Retirement System of Texas purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,408 shares of the industrial products company's stock, valued at approximately $929,000. Teacher Retirement System of Texas owned approximately 0.18% of Insteel Industries at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC raised its holdings in Insteel Industries by 17.8% during the fourth quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company's stock worth $12,688,000 after purchasing an additional 70,878 shares in the last quarter. Bank of New York Mellon Corp increased its position 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 valued at $6,794,000 after purchasing an additional 67,244 shares during the period. Wealthfront Advisers LLC acquired a new stake in shares of Insteel Industries in the fourth quarter valued at $1,369,000. Jane Street Group LLC lifted its holdings in shares of Insteel Industries by 228.1% in the third quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company's stock valued at $2,017,000 after buying an additional 45,115 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its stake in Insteel Industries by 43.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 145,264 shares of the industrial products company's stock valued at $4,516,000 after buying an additional 43,846 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Trading Up 1.2 %

NASDAQ:IIIN traded up $0.32 during mid-day trading on Wednesday, reaching $26.67. 88,500 shares of the stock were exchanged, compared to its average volume of 131,046. The business has a fifty day moving average price of $28.32 and a 200 day moving average price of $28.64. Insteel Industries, Inc. has a 1-year low of $23.60 and a 1-year high of $37.55. The firm has a market capitalization of $518.22 million, a PE ratio of 26.94, a PEG ratio of 1.81 and a beta of 1.13.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last announced 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 business had revenue of $129.70 million during the quarter, compared to analyst estimates of $117.45 million. During the same period in the prior year, the firm earned $0.06 EPS. The business's revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side 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 declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. Insteel Industries's dividend payout ratio is currently 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.