Insteel Industries, Inc. (NASDAQ:IIIN) Shares Acquired by Bridge City Capital LLC

Bridge City Capital LLC boosted its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 0.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 126,077 shares of the industrial products company’s stock after acquiring an additional 1,027 shares during the quarter. Bridge City Capital LLC owned 0.65% of Insteel Industries worth $3,405,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IIIN. BNP Paribas Financial Markets increased its position in shares of Insteel Industries by 8.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 434 shares during the last quarter. Exchange Traded Concepts LLC increased its holdings in Insteel Industries by 7.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company’s stock valued at $273,000 after buying an additional 690 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Insteel Industries in the third quarter valued at $34,000. Point72 DIFC Ltd purchased a new stake in Insteel Industries during the 3rd quarter worth about $37,000. Finally, Smartleaf Asset Management LLC boosted its position in shares of Insteel Industries by 535.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,660 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Performance

Shares of NASDAQ IIIN opened at $27.20 on Friday. The stock’s 50-day simple moving average is $28.16 and its 200-day simple moving average is $28.86. The firm has a market capitalization of $528.60 million, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. Insteel Industries, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $38.40.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The firm’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, sell-side analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

The business also recently disclosed 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 annualized dividend and a yield of 0.44%. Insteel Industries’s dividend payout ratio is presently 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.