Isthmus Partners LLC Has $32,000 Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Isthmus Partners LLC grew its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 6.8% in the 2nd quarter, Holdings Channel.com reports. The fund owned 104,302 shares of the industrial products company’s stock after purchasing an additional 6,665 shares during the quarter. Isthmus Partners LLC’s holdings in Insteel Industries were worth $32,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of IIIN. New York State Common Retirement Fund raised its holdings in Insteel Industries by 3.8% in the 4th quarter. New York State Common Retirement Fund now owns 36,582 shares of the industrial products company’s stock valued at $1,401,000 after acquiring an additional 1,336 shares during the period. Russell Investments Group Ltd. lifted its position in Insteel Industries by 2,097.5% during the fourth quarter. Russell Investments Group Ltd. now owns 62,474 shares of the industrial products company’s stock worth $2,392,000 after purchasing an additional 59,631 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Insteel Industries by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 160,639 shares of the industrial products company’s stock worth $6,151,000 after acquiring an additional 2,099 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Insteel Industries by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,239,317 shares of the industrial products company’s stock worth $47,454,000 after buying an additional 7,809 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its stake in shares of Insteel Industries by 41.9% in the 4th quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock valued at $9,531,000 after purchasing an additional 73,540 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Stock Performance

Shares of NASDAQ:IIIN traded down $0.35 during midday trading on Friday, hitting $31.29. 86,690 shares of the stock were exchanged, compared to its average volume of 96,416. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38. The stock has a market capitalization of $609.37 million, a price-to-earnings ratio of 25.23, a P/E/G ratio of 2.90 and a beta of 1.11. The business’s 50-day moving average price is $32.21 and its 200 day moving average price is $33.21.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, July 18th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.09). The firm had revenue of $145.80 million during the quarter, compared to analyst estimates of $153.04 million. Insteel Industries had a net margin of 3.67% and a return on equity of 5.78%. Insteel Industries’s quarterly revenue was down 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 EPS. As a group, sell-side analysts expect that Insteel Industries, Inc. will post 0.99 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, September 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. Insteel Industries’s payout ratio is 9.68%.

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.