Pacer Advisors Inc. Purchases 22,543 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Pacer Advisors Inc. raised its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 662,775 shares of the industrial products company’s stock after purchasing an additional 22,543 shares during the quarter. Pacer Advisors Inc.’s holdings in Insteel Industries were worth $20,606,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. First Eagle Investment Management LLC grew its stake in shares of Insteel Industries by 26.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock valued at $10,954,000 after purchasing an additional 74,791 shares during the period. UniSuper Management Pty Ltd bought a new position in shares of Insteel Industries during the 1st quarter valued at approximately $390,000. nVerses Capital LLC bought a new position in shares of Insteel Industries during the 2nd quarter valued at approximately $121,000. The Manufacturers Life Insurance Company grew its stake in shares of Insteel Industries by 8.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock valued at $236,000 after acquiring an additional 585 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Insteel Industries by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock valued at $14,480,000 after acquiring an additional 59,591 shares during the period. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Trading Up 1.2 %

Shares of NASDAQ:IIIN opened at $30.49 on Friday. The stock has a 50 day moving average of $29.58 and a 200 day moving average of $31.13. The company has a market cap of $592.99 million, a PE ratio of 30.79, a price-to-earnings-growth ratio of 2.22 and a beta of 1.12. Insteel Industries, Inc. has a 12-month low of $26.74 and a 12-month high of $39.38.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, hitting the consensus estimate of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The business had revenue of $134.30 million during the quarter, compared to the consensus estimate of $140.40 million. Equities research analysts predict that Insteel Industries, Inc. will post 1.11 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Friday, November 29th will be paid a $0.03 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.39%. Insteel Industries’s payout ratio is 12.12%.

Analyst Ratings Changes

Separately, StockNews.com downgraded Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

Insteel Industries Company 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.