Teacher Retirement System of Texas purchased a new stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the fourth quarter, according to the company in its most recent 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 about 0.18% of Insteel Industries at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in IIIN. Barclays PLC lifted its stake in shares of Insteel Industries by 363.7% in the third 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 during the period. State Street Corp lifted its position in shares of Insteel Industries by 4.9% in the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company's stock worth $23,675,000 after purchasing an additional 35,859 shares during the period. Geode Capital Management LLC boosted its stake in shares of Insteel Industries by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company's stock valued at $13,523,000 after purchasing an additional 3,612 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Insteel Industries in the 3rd quarter valued at $690,000. Finally, Principal Financial Group Inc. boosted its position in Insteel Industries by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company's stock valued at $2,555,000 after acquiring an additional 2,746 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.
Insteel Industries Stock Down 0.8 %
Insteel Industries stock traded down $0.22 during trading hours on Wednesday, reaching $26.13. 9,243 shares of the company's stock were exchanged, compared to its average volume of 130,531. The firm's 50 day simple moving average is $28.34 and its 200 day simple moving average is $28.66. Insteel Industries, Inc. has a twelve month low of $23.60 and a twelve month high of $37.55. The firm has a market capitalization of $507.73 million, a PE ratio of 26.39, a PEG ratio of 1.81 and a beta of 1.13.
Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its earnings results on Thursday, January 16th. The industrial products company reported $0.06 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 for the quarter, compared to analyst estimates of $117.45 million. During the same period in the prior year, the business earned $0.06 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.
Insteel Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.46%. Insteel Industries's dividend payout ratio (DPR) is presently 12.12%.
Insteel Industries Profile
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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.
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