Semanteon Capital Management LP Makes New Investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Semanteon Capital Management LP bought a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) during the 4th quarter, HoldingsChannel reports. The firm bought 10,004 shares of the industrial products company’s stock, valued at approximately $270,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Teacher Retirement System of Texas bought a new position in Insteel Industries during the 4th quarter worth about $929,000. Intech Investment Management LLC lifted its position in shares of Insteel Industries by 165.0% during the fourth quarter. Intech Investment Management LLC now owns 58,824 shares of the industrial products company’s stock valued at $1,589,000 after buying an additional 36,629 shares during the last quarter. First Eagle Investment Management LLC lifted its position in shares of 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 valued at $12,688,000 after buying an additional 70,878 shares during the last quarter. Wealthfront Advisers LLC purchased a new stake in shares of Insteel Industries during the fourth quarter valued at about $1,369,000. Finally, Isthmus Partners LLC lifted its position in shares of Insteel Industries by 10.4% during the fourth quarter. Isthmus Partners LLC now owns 91,243 shares of the industrial products company’s stock valued at $2,464,000 after buying an additional 8,609 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Stock Performance

IIIN stock opened at $27.20 on Friday. The firm has a market cap of $528.60 million, a price-to-earnings ratio of 27.48, a PEG ratio of 1.81 and a beta of 1.13. The firm has a 50-day simple moving average of $28.16 and a two-hundred day simple moving average of $28.88. Insteel Industries, Inc. has a one year low of $23.60 and a one year high of $38.40.

Insteel Industries (NASDAQ:IIIN) last released its quarterly 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). The firm had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.06 earnings per share. As a group, equities analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

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. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 14th. Insteel Industries’s payout ratio is 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.