UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $673,000 Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 34.3% in the third quarter, Holdings Channel.com reports. The fund owned 21,656 shares of the industrial products company’s stock after selling 11,308 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Insteel Industries were worth $673,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC grew its stake in shares of Insteel Industries by 6.8% in the 2nd quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock valued at $32,000 after purchasing an additional 6,665 shares during the period. nVerses Capital LLC bought a new stake in Insteel Industries in the second quarter valued at $121,000. Quantbot Technologies LP acquired a new position in Insteel Industries during the third quarter worth $121,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Insteel Industries by 100.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock valued at $175,000 after acquiring an additional 2,812 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of Insteel Industries by 8.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 434 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

NASDAQ:IIIN opened at $28.32 on Friday. The stock’s fifty day moving average price is $29.19 and its two-hundred day moving average price is $30.75. The company has a market cap of $550.88 million, a price-to-earnings ratio of 28.61, a P/E/G ratio of 2.21 and a beta of 1.11. Insteel Industries, Inc. has a 52-week low of $26.74 and a 52-week high of $39.38.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.24. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. The firm had revenue of $134.30 million for the quarter, compared to analysts’ expectations of $140.40 million. On average, equities analysts predict that Insteel Industries, Inc. will post 1.11 EPS for the current fiscal year.

Insteel Industries Announces Dividend

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

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th.

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.