Hantz Financial Services Inc. Makes New Investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Hantz Financial Services Inc. purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) during the second quarter, HoldingsChannel reports. The institutional investor purchased 8,710 shares of the industrial products company’s stock, valued at approximately $270,000.

Other large investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Insteel Industries during the 1st quarter worth $1,717,000. First Eagle Investment Management LLC increased its holdings in shares of Insteel Industries by 41.9% during the 4th quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock worth $9,531,000 after buying an additional 73,540 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of Insteel Industries by 11.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 270,074 shares of the industrial products company’s stock worth $10,322,000 after buying an additional 27,553 shares during the last quarter. Isthmus Partners LLC increased its holdings in shares of Insteel Industries by 3.4% during the 4th quarter. Isthmus Partners LLC now owns 70,271 shares of the industrial products company’s stock worth $2,691,000 after buying an additional 2,304 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Insteel Industries by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 76,942 shares of the industrial products company’s stock worth $2,946,000 after buying an additional 3,459 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Up 0.9 %

IIIN stock opened at $34.40 on Monday. The company has a market cap of $668.74 million, a price-to-earnings ratio of 27.74, a PEG ratio of 2.90 and a beta of 1.11. The business has a fifty day simple moving average of $32.02 and a 200-day simple moving average of $33.29. Insteel Industries, Inc. has a 52 week low of $26.86 and a 52 week high of $39.38.

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

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $0.12 annualized dividend and a yield of 0.35%. Insteel Industries’s dividend payout ratio is currently 9.68%.

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.