Robotti Robert Acquires 15,415 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Robotti Robert increased its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 6.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 262,780 shares of the industrial products company’s stock after buying an additional 15,415 shares during the quarter. Insteel Industries accounts for 1.4% of Robotti Robert’s investment portfolio, making the stock its 14th largest holding. Robotti Robert owned 1.35% of Insteel Industries worth $10,043,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in IIIN. SG Americas Securities LLC bought a new stake in shares of Insteel Industries in the first quarter valued at $1,717,000. First Eagle Investment Management LLC grew its holdings in shares of Insteel Industries by 41.9% during the 4th quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock valued at $9,531,000 after purchasing an additional 73,540 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in Insteel Industries by 11.4% in the 1st quarter. Oppenheimer & Co. Inc. now owns 270,074 shares of the industrial products company’s stock worth $10,322,000 after purchasing an additional 27,553 shares during the period. Linden Thomas Advisory Services LLC raised its stake in shares of Insteel Industries by 26.5% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,931 shares of the industrial products company’s stock valued at $380,000 after acquiring an additional 2,079 shares during the last quarter. Finally, Cerity Partners LLC bought a new position in shares of Insteel Industries during the fourth quarter valued at approximately $5,501,000. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Down 1.8 %

Shares of IIIN stock traded down $0.62 during midday trading on Monday, reaching $34.09. 77,805 shares of the stock were exchanged, compared to its average volume of 101,025. The company’s 50 day moving average is $31.46 and its two-hundred day moving average is $33.71. The firm has a market cap of $662.71 million, a PE ratio of 27.49, a price-to-earnings-growth ratio of 2.92 and a beta of 1.11. Insteel Industries, Inc. has a 1 year low of $26.86 and a 1 year high of $39.38.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $153.04 million. During the same period in the prior year, the firm earned $0.54 EPS. Insteel Industries’s revenue for the quarter was down 12.0% compared to the same quarter last year. As a group, equities analysts expect that Insteel Industries, Inc. will post 0.99 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Friday, June 14th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.35%. Insteel Industries’s dividend payout ratio (DPR) is presently 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.