Linden Thomas Advisory Services LLC Acquires 1,832 Shares of Insteel Industries, Inc. $IIIN

Linden Thomas Advisory Services LLC lifted its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 8.7% during the 2nd quarter, Holdings Channel reports. The firm owned 22,816 shares of the industrial products company’s stock after acquiring an additional 1,832 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Insteel Industries were worth $849,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. Unison Advisors LLC lifted its stake in Insteel Industries by 3.8% in the first quarter. Unison Advisors LLC now owns 18,144 shares of the industrial products company’s stock valued at $477,000 after buying an additional 666 shares during the period. Oppenheimer & Close LLC increased its stake in shares of Insteel Industries by 0.5% in the 1st quarter. Oppenheimer & Close LLC now owns 138,041 shares of the industrial products company’s stock valued at $3,630,000 after acquiring an additional 678 shares during the last quarter. State of Alaska Department of Revenue raised its position in shares of Insteel Industries by 7.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,552 shares of the industrial products company’s stock valued at $429,000 after acquiring an additional 785 shares during the period. Cardinal Capital Management boosted its stake in Insteel Industries by 2.8% during the 2nd quarter. Cardinal Capital Management now owns 38,947 shares of the industrial products company’s stock worth $1,449,000 after acquiring an additional 1,066 shares during the last quarter. Finally, New York State Teachers Retirement System boosted its stake in Insteel Industries by 32.4% during the 2nd quarter. New York State Teachers Retirement System now owns 6,204 shares of the industrial products company’s stock worth $231,000 after acquiring an additional 1,517 shares during the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of NASDAQ:IIIN opened at $30.79 on Monday. The company has a 50 day moving average price of $37.18 and a two-hundred day moving average price of $35.99. The company has a market capitalization of $597.58 million, a PE ratio of 31.10, a PEG ratio of 1.81 and a beta of 0.79. Insteel Industries, Inc. has a 52 week low of $22.49 and a 52 week high of $41.64.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings results on Thursday, October 16th. The industrial products company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.During the same quarter in the prior year, the firm earned $0.24 EPS. Insteel Industries’s revenue for the quarter was up 32.0% compared to the same quarter last year. On average, sell-side analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Friday, September 12th. Insteel Industries’s payout ratio is presently 5.71%.

Insider Activity

In other news, SVP James R. York sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was sold at an average price of $38.50, for a total transaction of $115,500.00. Following the sale, the senior vice president owned 9,443 shares of the company’s stock, valued at $363,555.50. This trade represents a 24.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.00% of the stock is owned by company insiders.

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.