Robotti Robert Purchases 1,110 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Robotti Robert raised its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 0.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 299,245 shares of the industrial products company’s stock after purchasing an additional 1,110 shares during the period. Insteel Industries accounts for 1.4% of Robotti Robert’s portfolio, making the stock its 20th largest position. Robotti Robert owned approximately 1.54% of Insteel Industries worth $8,083,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Intech Investment Management LLC bought a new position in shares of Insteel Industries in the third quarter worth approximately $690,000. Dynamic Technology Lab Private Ltd lifted its stake in Insteel Industries by 87.2% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 19,706 shares of the industrial products company’s stock valued at $613,000 after acquiring an additional 9,182 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Insteel Industries during the 3rd quarter valued at about $121,000. BNP Paribas Financial Markets boosted its holdings in Insteel Industries by 8.0% in the third quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 434 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Insteel Industries by 100.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock worth $175,000 after buying an additional 2,812 shares during the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

IIIN stock opened at $27.84 on Thursday. The company has a market cap of $540.98 million, a price-to-earnings ratio of 28.12, a P/E/G ratio of 1.81 and a beta of 1.13. The business’s 50-day moving average is $28.36 and its two-hundred day moving average is $28.79. Insteel Industries, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $38.40.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. Insteel Industries’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.06 earnings per share. Equities analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a $0.03 dividend. The ex-dividend date is Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.43%. Insteel Industries’s payout ratio is presently 12.12%.

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.