Mark Sheptoff Financial Planning LLC Takes $60,000 Position in Insteel Industries, Inc. $IIIN

Mark Sheptoff Financial Planning LLC bought a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,600 shares of the industrial products company’s stock, valued at approximately $60,000.

Other institutional investors have also recently made changes to their positions in the company. Cornerstone Investment Partners LLC acquired a new position in Insteel Industries in the 2nd quarter valued at $225,000. Corton Capital Inc. acquired a new position in Insteel Industries during the second quarter worth about $320,000. Linden Thomas Advisory Services LLC lifted its stake in Insteel Industries by 8.7% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 22,816 shares of the industrial products company’s stock worth $849,000 after purchasing an additional 1,832 shares in the last quarter. AlphaQuest LLC boosted its holdings in shares of Insteel Industries by 202.6% during the 2nd quarter. AlphaQuest LLC now owns 9,252 shares of the industrial products company’s stock worth $344,000 after purchasing an additional 6,194 shares during the last quarter. Finally, Connors Investor Services Inc. purchased a new position in Insteel Industries during the second quarter worth about $207,000. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Price Performance

NASDAQ:IIIN opened at $31.28 on Friday. The company’s 50-day moving average is $35.85 and its two-hundred day moving average is $36.17. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $41.64. The firm has a market capitalization of $607.39 million, a price-to-earnings ratio of 31.60, a PEG ratio of 1.81 and a beta of 0.83.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings results on Thursday, October 16th. The industrial products company reported $0.74 earnings per share (EPS) 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 last year, the company posted $0.24 EPS. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. As a group, equities analysts anticipate that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

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

Insider Activity at Insteel Industries

In other news, SVP James R. York sold 3,000 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $38.50, for a total transaction of $115,500.00. Following the completion of the transaction, the senior vice president directly owned 9,443 shares in the company, valued at approximately $363,555.50. This represents a 24.11% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.