Barclays PLC Grows Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Barclays PLC raised its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 363.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,391 shares of the industrial products company’s stock after buying an additional 25,405 shares during the period. Barclays PLC’s holdings in Insteel Industries were worth $1,007,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets lifted its position 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 worth $183,000 after purchasing an additional 434 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Insteel Industries by 8.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock worth $236,000 after purchasing an additional 585 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Insteel Industries in the 3rd quarter worth approximately $34,000. Ellsworth Advisors LLC lifted its position in shares of Insteel Industries by 7.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,527 shares of the industrial products company’s stock worth $514,000 after purchasing an additional 1,109 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of Insteel Industries in the 3rd quarter worth approximately $37,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Stock Down 2.7 %

NASDAQ IIIN opened at $26.80 on Tuesday. The firm has a market cap of $521.31 million, a PE ratio of 27.07, a price-to-earnings-growth ratio of 2.21 and a beta of 1.11. The company has a 50 day moving average price of $29.07 and a 200 day moving average price of $30.63. Insteel Industries, Inc. has a 52 week low of $26.74 and a 52 week high of $38.40.

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

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, November 29th. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. Insteel Industries’s dividend payout ratio (DPR) is presently 12.12%.

Analysts Set New Price Targets

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

About Insteel Industries

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.