First Eagle Investment Management LLC Purchases 70,878 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

First Eagle Investment Management LLC lifted its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 17.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 469,752 shares of the industrial products company’s stock after purchasing an additional 70,878 shares during the quarter. First Eagle Investment Management LLC owned 2.42% of Insteel Industries worth $12,688,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Barclays PLC grew its holdings in shares of Insteel Industries by 363.7% in the 3rd quarter. Barclays PLC now owns 32,391 shares of the industrial products company’s stock worth $1,007,000 after purchasing an additional 25,405 shares during the last quarter. State Street Corp grew its holdings in shares of Insteel Industries by 4.9% in the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock worth $23,675,000 after purchasing an additional 35,859 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Insteel Industries by 0.8% in the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock worth $13,523,000 after purchasing an additional 3,612 shares during the last quarter. Intech Investment Management LLC bought a new stake in Insteel Industries during the 3rd quarter worth about $690,000. Finally, Principal Financial Group Inc. grew its holdings in Insteel Industries by 3.0% during the 4th quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company’s stock worth $2,555,000 after acquiring an additional 2,746 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Up 3.0 %

Shares of NASDAQ:IIIN opened at $27.02 on Friday. Insteel Industries, Inc. has a 12 month low of $23.60 and a 12 month high of $38.40. The company’s 50-day moving average price is $27.88 and its two-hundred day moving average price is $29.16. The firm has a market cap of $524.97 million, a P/E ratio of 27.29, a P/E/G ratio of 1.81 and a beta of 1.13.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $117.45 million. During the same period in the prior year, the company earned $0.06 EPS. The firm’s revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. Insteel Industries’s payout ratio is presently 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.