Isthmus Partners LLC Has $2.46 Million Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Isthmus Partners LLC raised its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 10.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,243 shares of the industrial products company’s stock after purchasing an additional 8,609 shares during the quarter. Isthmus Partners LLC’s holdings in Insteel Industries were worth $2,464,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Point72 Asset Management L.P. bought a new position in shares of Insteel Industries during the 3rd quarter valued at approximately $34,000. Point72 DIFC Ltd bought a new position in shares of Insteel Industries during the 3rd quarter valued at about $37,000. Smartleaf Asset Management LLC lifted its stake in Insteel Industries by 535.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,660 shares during the last quarter. Nisa Investment Advisors LLC increased its stake in shares of Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock worth $69,000 after buying an additional 2,498 shares during the period. Finally, AlphaQuest LLC bought a new stake in shares of Insteel Industries in the 4th quarter worth approximately $83,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Up 1.7 %

IIIN opened at $27.65 on Monday. The stock has a market cap of $537.34 million, a PE ratio of 27.93, a PEG ratio of 1.81 and a beta of 1.13. Insteel Industries, Inc. has a 52 week low of $23.60 and a 52 week high of $38.40. The business has a 50 day moving average of $27.88 and a 200-day moving average of $29.28.

Insteel Industries (NASDAQ:IIIN) last issued 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 net margin of 3.58% and a return on equity of 5.91%. The business had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. Equities analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.03 dividend. 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 payout ratio is presently 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.