Dimensional Fund Advisors LP Sells 7,674 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Dimensional Fund Advisors LP trimmed its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 0.6% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,222,650 shares of the industrial products company’s stock after selling 7,674 shares during the period. Dimensional Fund Advisors LP owned 6.28% of Insteel Industries worth $37,852,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Scarborough Advisors LLC acquired a new stake in Insteel Industries in the 4th quarter worth $44,000. Allspring Global Investments Holdings LLC increased its stake in Insteel Industries by 409.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 3,340 shares of the industrial products company’s stock valued at $128,000 after acquiring an additional 2,685 shares during the period. nVerses Capital LLC acquired a new position in Insteel Industries in the 2nd quarter valued at approximately $121,000. Hantz Financial Services Inc. bought a new stake in shares of Insteel Industries in the 2nd quarter worth approximately $270,000. Finally, BNP Paribas Financial Markets grew its holdings in shares of Insteel Industries by 76.9% during the 1st quarter. BNP Paribas Financial Markets now owns 9,264 shares of the industrial products company’s stock worth $354,000 after purchasing an additional 4,028 shares in the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Stock Up 0.6 %

NASDAQ IIIN opened at $31.08 on Tuesday. Insteel Industries, Inc. has a twelve month low of $26.86 and a twelve month high of $39.38. The stock has a market cap of $605.28 million, a P/E ratio of 25.06, a PEG ratio of 2.65 and a beta of 1.11. The company’s 50-day simple moving average is $32.25 and its 200 day simple moving average is $32.74.

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

Insteel Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. The ex-dividend date was Friday, September 13th. Insteel Industries’s dividend payout ratio is 9.68%.

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.