Quantbot Technologies LP Purchases 4,130 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Quantbot Technologies LP increased its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 106.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,008 shares of the industrial products company’s stock after buying an additional 4,130 shares during the period. Quantbot Technologies LP’s holdings in Insteel Industries were worth $216,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Eagle Investment Management LLC lifted its position in Insteel Industries by 17.8% during the 4th quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company’s stock worth $12,688,000 after acquiring an additional 70,878 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Insteel Industries by 36.5% during the 4th quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company’s stock valued at $6,794,000 after purchasing an additional 67,244 shares during the period. Wealthfront Advisers LLC acquired a new stake in Insteel Industries in the 4th quarter valued at approximately $1,369,000. Jane Street Group LLC increased its position in Insteel Industries by 228.1% in the 3rd quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company’s stock worth $2,017,000 after buying an additional 45,115 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its holdings in shares of Insteel Industries by 43.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 145,264 shares of the industrial products company’s stock worth $4,516,000 after buying an additional 43,846 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Trading Down 4.5 %

Shares of Insteel Industries stock opened at $26.34 on Friday. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40. The company’s fifty day simple moving average is $28.39 and its 200-day simple moving average is $28.74. The company has a market cap of $511.77 million, a price-to-earnings ratio of 26.60, a PEG ratio of 1.81 and a beta of 1.13.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.03). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The company had revenue of $129.70 million during the quarter, compared to analyst estimates of $117.45 million. During the same quarter in the prior year, the business earned $0.06 earnings per share. The business’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, research analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 0.46%. Insteel Industries’s dividend payout ratio is 12.12%.

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.