Linden Thomas Advisory Services LLC Increases Stock Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Linden Thomas Advisory Services LLC raised its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 16.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 17,765 shares of the industrial products company’s stock after buying an additional 2,558 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Insteel Industries were worth $480,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Exchange Traded Concepts LLC raised its stake in 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 valued at $273,000 after buying an additional 690 shares during the last quarter. Nisa Investment Advisors LLC raised its holdings in Insteel Industries by 3,568.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 2,498 shares during the period. JPMorgan Chase & Co. raised its holdings in Insteel Industries by 57.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company’s stock worth $437,000 after purchasing an additional 5,121 shares during the period. Barclays PLC raised its holdings in 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 period. Finally, Geode Capital Management LLC raised its holdings in 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 period. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com lowered Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

Insteel Industries Stock Down 0.6 %

Shares of Insteel Industries stock opened at $28.80 on Monday. The firm has a market cap of $559.58 million, a price-to-earnings ratio of 29.09, a PEG ratio of 1.76 and a beta of 1.14. The business has a 50-day moving average price of $28.18 and a 200-day moving average price of $30.01. Insteel Industries, Inc. has a twelve month low of $23.60 and a twelve month high of $38.40.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. On average, equities analysts expect that Insteel Industries, Inc. will post 1.33 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a $0.03 dividend. The ex-dividend date was Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.42%. Insteel Industries’s dividend payout ratio is currently 12.12%.

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.