Insteel Industries, Inc. $IIIN Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC increased its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 38.9% in the second quarter, HoldingsChannel.com reports. The firm owned 39,545 shares of the industrial products company’s stock after buying an additional 11,069 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Insteel Industries were worth $1,471,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in shares of Insteel Industries by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,308,508 shares of the industrial products company’s stock worth $34,414,000 after buying an additional 67,377 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Insteel Industries by 44.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 989,138 shares of the industrial products company’s stock worth $26,014,000 after acquiring an additional 304,671 shares during the period. Invenomic Capital Management LP lifted its holdings in Insteel Industries by 63.4% during the first quarter. Invenomic Capital Management LP now owns 351,653 shares of the industrial products company’s stock valued at $9,248,000 after purchasing an additional 136,494 shares in the last quarter. Robotti Robert raised its position in shares of Insteel Industries by 0.8% during the 1st quarter. Robotti Robert now owns 301,740 shares of the industrial products company’s stock worth $7,936,000 after purchasing an additional 2,495 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Insteel Industries by 36.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 253,706 shares of the industrial products company’s stock valued at $6,672,000 after buying an additional 67,422 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP James R. York sold 3,000 shares of the stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $38.50, for a total value of $115,500.00. Following the completion of the sale, the senior vice president directly owned 9,443 shares in the company, valued at $363,555.50. This represents a 24.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.00% of the stock is owned by insiders.

Insteel Industries Trading Up 0.6%

IIIN stock opened at $31.88 on Wednesday. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $41.64. The business’s 50-day moving average is $35.59 and its 200 day moving average is $36.20. The stock has a market cap of $618.98 million, a price-to-earnings ratio of 32.20, a PEG ratio of 1.81 and a beta of 0.83.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, October 16th. The industrial products company reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.79 by ($0.05). 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 32.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. As a group, equities analysts forecast that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The firm also recently announced a dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 28th. Insteel Industries’s payout ratio is 5.71%.

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.