BNP Paribas Financial Markets Has $183,000 Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

BNP Paribas Financial Markets lifted its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 8.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,885 shares of the industrial products company’s stock after buying an additional 434 shares during the period. BNP Paribas Financial Markets’ holdings in Insteel Industries were worth $183,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Isthmus Partners LLC increased its position in Insteel Industries by 6.8% during the second quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock worth $32,000 after buying an additional 6,665 shares during the last quarter. nVerses Capital LLC bought a new stake in shares of Insteel Industries during the 2nd quarter worth $121,000. Quantbot Technologies LP bought a new position in Insteel Industries in the 3rd quarter valued at approximately $121,000. The Manufacturers Life Insurance Company raised its position in Insteel Industries by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock valued at $236,000 after purchasing an additional 585 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in Insteel Industries in the 2nd quarter valued at approximately $270,000. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Stock Down 0.3 %

Shares of NASDAQ:IIIN opened at $29.82 on Wednesday. The business’s 50 day moving average is $29.22 and its 200 day moving average is $30.78. Insteel Industries, Inc. has a 12-month low of $26.74 and a 12-month high of $39.38. The stock has a market cap of $580.06 million, a price-to-earnings ratio of 30.12, a PEG ratio of 2.21 and a beta of 1.11.

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, meeting the consensus estimate of $0.24. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $140.40 million. Insteel Industries had a net margin of 3.65% and a return on equity of 5.63%. As a group, equities research analysts expect that Insteel Industries, Inc. will post 1.11 earnings per share for the current year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.40%. Insteel Industries’s dividend payout ratio (DPR) is presently 12.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a research note 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.