Semanteon Capital Management LP Acquires Shares of 10,004 Insteel Industries, Inc. (NASDAQ:IIIN)

Semanteon Capital Management LP acquired a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,004 shares of the industrial products company’s stock, valued at approximately $270,000. Semanteon Capital Management LP owned about 0.05% of Insteel Industries as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of IIIN. Cerity Partners LLC increased its position in Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock valued at $12,678,000 after acquiring an additional 232,514 shares during the last quarter. First Eagle Investment Management LLC grew its holdings in shares of Insteel Industries by 17.8% in the fourth quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company’s stock worth $12,688,000 after purchasing an additional 70,878 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Insteel Industries by 36.5% in the fourth quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company’s stock worth $6,794,000 after purchasing an additional 67,244 shares during the last quarter. Wealthfront Advisers LLC bought a new position in shares of Insteel Industries in the fourth quarter worth about $1,369,000. Finally, Jane Street Group LLC grew its holdings in shares of Insteel Industries by 228.1% in the third quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company’s stock worth $2,017,000 after purchasing an additional 45,115 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Down 1.1 %

NASDAQ IIIN opened at $27.20 on Friday. The company’s 50-day moving average price is $28.16 and its 200-day moving average price is $28.88. The stock has a market cap of $528.60 million, a PE ratio of 27.48, a PEG ratio of 1.81 and a beta of 1.13. Insteel Industries, Inc. has a 12 month low of $23.60 and a 12 month high of $38.40.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $129.70 million during the quarter, compared to the consensus estimate of $117.45 million. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.06 earnings per share. As a group, sell-side analysts forecast 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. Stockholders of record on Friday, March 14th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.44%. The ex-dividend date of this dividend is Friday, March 14th. 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.