Wealthfront Advisers LLC Makes New $1.37 Million Investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Wealthfront Advisers LLC purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 50,673 shares of the industrial products company's stock, valued at approximately $1,369,000. Wealthfront Advisers LLC owned approximately 0.26% of Insteel Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of IIIN. Cerity Partners LLC grew its stake in shares of Insteel Industries by 132.7% in the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company's stock worth $12,678,000 after purchasing an additional 232,514 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Insteel Industries by 36.5% in the fourth quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company's stock worth $6,794,000 after purchasing an additional 67,244 shares during the last quarter. Jane Street Group LLC grew its stake 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 worth $2,017,000 after purchasing an additional 45,115 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its stake in shares of Insteel Industries by 43.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 145,264 shares of the industrial products company's stock worth $4,516,000 after purchasing an additional 43,846 shares during the last quarter. Finally, State Street Corp grew its stake in shares of Insteel Industries by 4.9% in the third 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 last quarter. Institutional investors own 83.27% of the company's stock.

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Insteel Industries Price Performance

Shares of Insteel Industries stock traded up $0.52 during trading on Wednesday, hitting $28.00. The company's stock had a trading volume of 147,259 shares, compared to its average volume of 121,395. Insteel Industries, Inc. has a 52 week low of $23.60 and a 52 week high of $38.40. The stock has a market cap of $544.07 million, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The stock has a 50-day moving average price of $27.97 and a two-hundred day moving average price of $28.95.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings results 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). The firm had revenue of $129.70 million for the quarter, compared to the consensus estimate of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The business's revenue was up 6.5% compared to the same quarter last year. During the same period last year, the company posted $0.06 EPS. On average, equities analysts predict that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

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