New York State Common Retirement Fund Has $1.26 Million Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

New York State Common Retirement Fund lessened its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 1.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 33,072 shares of the industrial products company’s stock after selling 408 shares during the quarter. New York State Common Retirement Fund’s holdings in Insteel Industries were worth $1,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of IIIN. American Century Companies Inc. lifted its stake in shares of Insteel Industries by 26.4% during the second quarter. American Century Companies Inc. now owns 17,297 shares of the industrial products company’s stock valued at $556,000 after acquiring an additional 3,614 shares during the period. Swiss National Bank lifted its stake in Insteel Industries by 1.9% in the second quarter. Swiss National Bank now owns 42,600 shares of the industrial products company’s stock valued at $1,370,000 after buying an additional 800 shares during the period. Sei Investments Co. acquired a new position in Insteel Industries in the second quarter valued at about $443,000. Citigroup Inc. lifted its stake in Insteel Industries by 388.9% in the second quarter. Citigroup Inc. now owns 10,633 shares of the industrial products company’s stock valued at $342,000 after buying an additional 8,458 shares during the period. Finally, Principal Financial Group Inc. lifted its stake in Insteel Industries by 13.2% in the second quarter. Principal Financial Group Inc. now owns 150,227 shares of the industrial products company’s stock valued at $4,830,000 after buying an additional 17,479 shares during the period. 77.68% of the stock is currently owned by institutional investors and hedge funds.

In other Insteel Industries news, VP Scot R. Jafroodi sold 3,000 shares of the stock in a transaction dated Wednesday, November 17th. The stock was sold at an average price of $45.03, for a total value of $135,090.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.20% of the stock is owned by corporate insiders.

NASDAQ:IIIN opened at $40.65 on Friday. Insteel Industries, Inc. has a 1-year low of $24.22 and a 1-year high of $46.50. The business’s 50-day moving average price is $41.43 and its two-hundred day moving average price is $38.78. The firm has a market capitalization of $788.94 million, a price-to-earnings ratio of 11.96 and a beta of 1.48.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, October 21st. The industrial products company reported $1.28 earnings per share for the quarter, beating the consensus estimate of $0.94 by $0.34. Insteel Industries had a return on equity of 24.88% and a net margin of 11.28%. The firm had revenue of $171.26 million for the quarter.

The firm also recently declared a quarterly dividend, which was paid on Friday, December 17th. Shareholders of record on Thursday, December 2nd were issued a $0.03 dividend. The ex-dividend date was Wednesday, December 1st. This represents a $0.12 annualized dividend and a dividend yield of 0.30%. Insteel Industries’s dividend payout ratio (DPR) is currently 3.53%.

Insteel Industries Company Profile

Insteel Industries, Inc manufactures and markets steel wire reinforcing products for concrete construction applications. Its products include PC strand and welded wire reinforcement (WWR). The PC strand products refers to seven-wire strand that is used to impart compression forces into precast concrete elements and structures, which may be either pretensioned or posttensioned, providing reinforcement for bridges, parking decks, buildings and other concrete structures.

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Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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