Royce & Associates LP Increases Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Royce & Associates LP increased its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 0.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 813,735 shares of the industrial products company’s stock after buying an additional 631 shares during the quarter. Royce & Associates LP owned 4.19% of Insteel Industries worth $21,979,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in Insteel Industries by 4.8% during the 3rd quarter. Victory Capital Management Inc. now owns 84,767 shares of the industrial products company’s stock valued at $2,635,000 after purchasing an additional 3,886 shares during the last quarter. Intech Investment Management LLC purchased a new stake in Insteel Industries during the 3rd quarter valued at about $690,000. Pacer Advisors Inc. grew its stake in Insteel Industries by 3.5% during the 3rd quarter. Pacer Advisors Inc. now owns 662,775 shares of the industrial products company’s stock valued at $20,606,000 after purchasing an additional 22,543 shares during the last quarter. Cerity Partners LLC grew its stake in Insteel Industries by 132.7% during the 3rd quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock valued at $12,678,000 after purchasing an additional 232,514 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its stake in Insteel Industries by 87.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,706 shares of the industrial products company’s stock valued at $613,000 after purchasing an additional 9,182 shares during the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

Insteel Industries stock opened at $27.02 on Monday. The business’s 50-day simple moving average is $27.90 and its two-hundred day simple moving average is $29.05. The company has a market cap of $524.97 million, a PE ratio of 27.29, a PEG 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 posted its quarterly earnings results 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 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 firm’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.06 EPS. As a group, analysts predict that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be issued a $0.03 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.44%. Insteel Industries’s dividend payout ratio (DPR) 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.