Inceptionr LLC Takes Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Inceptionr LLC purchased a new stake in Insteel Industries, Inc. (NASDAQ:IIIN) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,650 shares of the industrial products company’s stock, valued at approximately $261,000.

Several other hedge funds have also modified their holdings of IIIN. BNP Paribas Financial Markets raised its holdings in Insteel Industries by 8.0% during 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. Exchange Traded Concepts LLC raised its holdings in Insteel Industries by 7.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 690 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in Insteel Industries during the third quarter worth $34,000. Point72 DIFC Ltd acquired a new position in Insteel Industries during the third quarter worth $37,000. Finally, Smartleaf Asset Management LLC raised its holdings in Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after purchasing an additional 1,660 shares during the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of IIIN stock opened at $27.65 on Monday. The stock has a fifty day moving average price of $27.88 and a 200 day moving average price of $29.28. The stock has a market cap of $537.34 million, a PE ratio of 27.93, a P/E/G ratio of 1.81 and a beta of 1.13. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $129.70 million for the quarter, compared to analyst estimates of $117.45 million. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.06 earnings per share. As a group, equities research analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

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

Insteel Industries 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.