Linden Thomas Advisory Services LLC Grows Stock Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Linden Thomas Advisory Services LLC increased its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 16.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,765 shares of the industrial products company’s stock after purchasing an additional 2,558 shares during the quarter. Linden Thomas Advisory Services LLC owned approximately 0.09% of Insteel Industries worth $480,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Point72 Asset Management L.P. bought a new stake in shares of Insteel Industries in the third quarter worth about $34,000. Point72 DIFC Ltd bought a new stake in shares of Insteel Industries in the third quarter worth about $37,000. Nisa Investment Advisors LLC grew its stake in shares of Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 2,498 shares during the last quarter. Quantbot Technologies LP bought a new stake in shares of Insteel Industries in the third quarter worth about $121,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Insteel Industries by 100.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,812 shares during the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Stock Performance

Insteel Industries stock opened at $28.80 on Monday. The stock’s 50 day simple moving average is $28.18 and its two-hundred day simple moving average is $30.01. The stock has a market cap of $559.58 million, a price-to-earnings ratio of 29.09, a PEG ratio of 1.76 and a beta of 1.14. Insteel Industries, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $38.40.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share 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 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 business’s revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.06 earnings per share. On average, analysts predict that Insteel Industries, Inc. will post 1.33 earnings per share for the current year.

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.42%. Insteel Industries’s dividend payout ratio is currently 12.12%.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

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.