Segall Bryant & Hamill LLC grew its position in Insteel Industries, Inc. (NYSE:IIIN – Free Report) by 111.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 156,139 shares of the company’s stock after acquiring an additional 82,454 shares during the period. Segall Bryant & Hamill LLC owned about 0.80% of Insteel Industries worth $5,248,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the company. Advisory Services Network LLC acquired a new stake in Insteel Industries in the 3rd quarter valued at about $26,000. BNP Paribas Financial Markets increased its position in Insteel Industries by 74.3% during the second quarter. BNP Paribas Financial Markets now owns 2,248 shares of the company’s stock worth $84,000 after buying an additional 958 shares during the last quarter. Quarry LP acquired a new position in Insteel Industries during the third quarter worth approximately $89,000. Smartleaf Asset Management LLC raised its stake in Insteel Industries by 30.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the company’s stock valued at $95,000 after buying an additional 583 shares during the period. Finally, Tower Research Capital LLC TRC raised its stake in Insteel Industries by 372.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,283 shares of the company’s stock valued at $122,000 after buying an additional 2,588 shares during the period. 83.27% of the stock is currently owned by institutional investors and hedge funds.
Insteel Industries Price Performance
IIIN stock opened at $31.18 on Tuesday. Insteel Industries, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $39.91. The stock has a market capitalization of $603.58 million, a price-to-earnings ratio of 16.76, a PEG ratio of 1.61 and a beta of 0.52. The business’s fifty day moving average price is $29.63 and its two-hundred day moving average price is $31.33.
Insteel Industries Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, June 12th. Insteel Industries’s dividend payout ratio is presently 6.45%.
Analyst Ratings Changes
Several brokerages have recently commented on IIIN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Insteel Industries in a research note on Monday, July 20th. Zacks Research upgraded Insteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Wall Street Zen raised Insteel Industries from a “sell” rating to a “hold” rating in a report on Saturday, July 18th. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.
Get Our Latest Analysis on Insteel Industries
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.
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