GSA Capital Partners LLP raised its position in Insteel Industries, Inc. (NYSE:IIIN – Free Report) by 75.9% during the fourth quarter, Holdings Channel reports. The fund owned 63,800 shares of the company’s stock after acquiring an additional 27,525 shares during the period. GSA Capital Partners LLP’s holdings in Insteel Industries were worth $2,021,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Insteel Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,415,156 shares of the company’s stock valued at $44,818,000 after acquiring an additional 17,660 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Insteel Industries by 1.2% in the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 990,770 shares of the company’s stock valued at $37,986,000 after acquiring an additional 11,931 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Insteel Industries by 1.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 253,170 shares of the company’s stock valued at $8,018,000 after acquiring an additional 4,036 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in Insteel Industries by 7.5% in the third quarter. Jacobs Levy Equity Management Inc. now owns 175,284 shares of the company’s stock valued at $6,720,000 after acquiring an additional 12,177 shares during the period. Finally, Algert Global LLC lifted its holdings in Insteel Industries by 360.5% in the third quarter. Algert Global LLC now owns 166,514 shares of the company’s stock valued at $6,384,000 after acquiring an additional 130,354 shares during the period. Institutional investors own 83.27% of the company’s stock.
Analysts Set New Price Targets
IIIN has been the topic of a number of recent research reports. Weiss Ratings downgraded Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a report on Wednesday, April 22nd. Zacks Research downgraded Insteel Industries from a “hold” rating to a “strong sell” rating in a report on Monday, April 20th. Finally, Wall Street Zen downgraded Insteel Industries from a “hold” rating to a “sell” rating in a report on Monday, May 4th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce”.
Insider Transactions at Insteel Industries
In related news, COO Richard Wagner sold 1,679 shares of Insteel Industries stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $37.67, for a total transaction of $63,247.93. Following the sale, the chief operating officer owned 40,000 shares of the company’s stock, valued at approximately $1,506,800. This trade represents a 4.03% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.20% of the company’s stock.
Insteel Industries Stock Down 4.0%
NYSE IIIN opened at $24.54 on Wednesday. The stock’s 50-day moving average price is $30.28 and its 200-day moving average price is $32.28. Insteel Industries, Inc. has a 52 week low of $24.35 and a 52 week high of $41.64. The company has a market capitalization of $476.75 million, a P/E ratio of 11.26, a price-to-earnings-growth ratio of 1.61 and a beta of 0.53.
Insteel Industries (NYSE:IIIN – Get Free Report) last posted its quarterly earnings data on Thursday, April 16th. The company reported $0.27 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.53). Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.The company had revenue of $172.65 million during the quarter. During the same quarter in the prior year, the business earned $0.52 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts anticipate that Insteel Industries, Inc. will post 1.32 EPS for the current year.
Insteel Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.12 annualized dividend and a dividend yield of 0.5%. Insteel Industries’s dividend payout ratio (DPR) is 5.50%.
Insteel Industries 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.
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