Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by StoneX Group Inc.

StoneX Group Inc. cut its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 42,005 shares of the industrial products company’s stock after selling 884 shares during the period. StoneX Group Inc.’s holdings in Insteel Industries were worth $1,135,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in IIIN. Vanguard Group Inc. lifted its stake in Insteel Industries by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company’s stock valued at $33,523,000 after buying an additional 41,908 shares during the last quarter. State Street Corp grew its position in shares of Insteel Industries by 4.9% during the third quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock worth $23,675,000 after acquiring an additional 35,859 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Insteel Industries by 1.1% in the 4th quarter. American Century Companies Inc. now owns 537,495 shares of the industrial products company’s stock valued at $14,518,000 after acquiring an additional 5,935 shares during the period. First Eagle Investment Management LLC raised its position in Insteel Industries by 17.8% in the 4th quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company’s stock valued at $12,688,000 after purchasing an additional 70,878 shares during the last quarter. Finally, Geode Capital Management LLC boosted its stake in Insteel Industries by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock worth $13,523,000 after purchasing an additional 3,612 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

NASDAQ IIIN opened at $26.38 on Wednesday. The firm’s fifty day moving average is $28.34 and its two-hundred day moving average is $28.66. Insteel Industries, Inc. has a one year low of $23.60 and a one year high of $37.55. The firm has a market cap of $512.57 million, a PE ratio of 26.65, a P/E/G ratio of 1.81 and a beta of 1.13.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 return on equity of 5.91% and a net margin of 3.58%. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.06 EPS. Research analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, March 14th. Insteel Industries’s dividend payout ratio (DPR) 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.