Koss Olinger Consulting LLC Sells 716 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Koss Olinger Consulting LLC lowered its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 5.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,796 shares of the industrial products company’s stock after selling 716 shares during the quarter. Koss Olinger Consulting LLC’s holdings in Insteel Industries were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC grew its holdings in Insteel Industries by 363.7% during the 3rd quarter. Barclays PLC now owns 32,391 shares of the industrial products company’s stock worth $1,007,000 after acquiring an additional 25,405 shares during the last quarter. State Street Corp boosted its stake in shares of Insteel Industries by 4.9% in the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock valued at $23,675,000 after purchasing an additional 35,859 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Insteel Industries by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock valued at $13,523,000 after purchasing an additional 3,612 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Insteel Industries in the 3rd quarter valued at about $690,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Insteel Industries by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company’s stock valued at $2,555,000 after purchasing an additional 2,746 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Up 1.9 %

Shares of NASDAQ IIIN opened at $28.00 on Thursday. The firm has a market capitalization of $544.07 million, a PE ratio of 28.28, a price-to-earnings-growth 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. The firm’s 50-day moving average is $28.04 and its 200-day moving average is $28.94.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results 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 business had revenue of $129.70 million during the quarter, compared to the consensus estimate of $117.45 million. 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 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 EPS. As a group, equities research analysts anticipate that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

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