Y Intercept Hong Kong Ltd Invests $1.37 Million in Insteel Industries, Inc. $IIIN

Y Intercept Hong Kong Ltd bought a new position in Insteel Industries, Inc. (NYSE:IIIN) during the 1st quarter, Holdings Channel reports. The fund bought 40,735 shares of the company’s stock, valued at approximately $1,369,000.

A number of other hedge funds also recently bought and sold shares of IIIN. AQR Capital Management LLC lifted its holdings in Insteel Industries by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock worth $4,101,000 after buying an additional 17,168 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Insteel Industries during the first quarter valued at approximately $225,000. Quantbot Technologies LP purchased a new position in shares of Insteel Industries during the second quarter valued at approximately $220,000. Arrowstreet Capital Limited Partnership raised its holdings in shares of Insteel Industries by 28.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock valued at $4,602,000 after acquiring an additional 27,702 shares in the last quarter. Finally, Jump Financial LLC lifted its stake in Insteel Industries by 94.3% in the second quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock worth $646,000 after acquiring an additional 8,429 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Wall Street Zen downgraded shares of Insteel Industries from a “hold” rating to a “sell” rating in a research report on Monday, May 4th. Zacks Research raised shares of Insteel Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings lowered shares of Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold”.

Insteel Industries Stock Performance

Shares of IIIN traded down $0.07 on Friday, reaching $29.27. The stock had a trading volume of 152,093 shares, compared to its average volume of 456,366. Insteel Industries, Inc. has a 12-month low of $24.35 and a 12-month high of $41.64. The firm has a market capitalization of $568.62 million, a price-to-earnings ratio of 13.42, a price-to-earnings-growth ratio of 1.85 and a beta of 0.52. The company has a 50-day simple moving average of $28.11 and a 200-day simple moving average of $31.49.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings results on Thursday, April 16th. The company reported $0.27 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.53). The firm had revenue of $172.65 million during the quarter. Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.The firm’s revenue for the quarter was up 7.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.52 earnings per share. On average, analysts expect that Insteel Industries, Inc. will post 1.32 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Insteel Industries’s dividend payout ratio is currently 5.50%.

Insteel Industries Company Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.