Insteel Industries, Inc. (NASDAQ:IIIN) Shares Purchased by Bridge City Capital LLC

Bridge City Capital LLC boosted its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 0.8% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 126,077 shares of the industrial products company’s stock after buying an additional 1,027 shares during the quarter. Bridge City Capital LLC’s holdings in Insteel Industries were worth $3,405,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently made changes to their positions in IIIN. BNP Paribas Financial Markets boosted its stake in shares of Insteel Industries by 8.0% during the third quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after acquiring an additional 434 shares during the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Insteel Industries by 7.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company’s stock worth $273,000 after purchasing an additional 690 shares during the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Insteel Industries in the third quarter valued at approximately $34,000. Point72 DIFC Ltd acquired a new stake in Insteel Industries during the third quarter worth approximately $37,000. Finally, Smartleaf Asset Management LLC grew its stake in Insteel Industries by 535.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after acquiring an additional 1,660 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of IIIN opened at $27.20 on Friday. Insteel Industries, Inc. has a fifty-two week low of $23.60 and a fifty-two week high of $38.40. The company has a market capitalization of $528.60 million, a PE ratio of 27.48, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The stock has a fifty day moving average of $28.16 and a two-hundred day moving average of $28.86.

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

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend is Friday, March 14th. Insteel Industries’s dividend payout ratio is currently 12.12%.

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.