Linden Thomas Advisory Services LLC Purchases 1,832 Shares of Insteel Industries, Inc. $IIIN

Linden Thomas Advisory Services LLC grew its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 8.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 22,816 shares of the industrial products company’s stock after acquiring an additional 1,832 shares during the quarter. Linden Thomas Advisory Services LLC owned 0.12% of Insteel Industries worth $849,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. CWM LLC lifted its position in Insteel Industries by 150.9% in the first quarter. CWM LLC now owns 4,744 shares of the industrial products company’s stock worth $125,000 after purchasing an additional 2,853 shares during the period. Annis Gardner Whiting Capital Advisors LLC acquired a new position in shares of Insteel Industries in the 1st quarter valued at $200,000. Connors Investor Services Inc. acquired a new position in shares of Insteel Industries in the 2nd quarter valued at $207,000. Maryland State Retirement & Pension System bought a new position in shares of Insteel Industries during the 2nd quarter worth about $217,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Insteel Industries during the 1st quarter valued at about $225,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insiders Place Their Bets

In other news, SVP James R. York sold 3,000 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were sold at an average price of $38.50, for a total transaction of $115,500.00. Following the completion of the sale, the senior vice president owned 9,443 shares of the company’s stock, valued at approximately $363,555.50. This trade represents a 24.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

Insteel Industries Trading Down 0.0%

IIIN stock opened at $30.79 on Monday. The business’s 50 day moving average is $37.18 and its 200-day moving average is $35.99. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $41.64. The firm has a market cap of $597.58 million, a P/E ratio of 31.10, a P/E/G ratio of 1.81 and a beta of 0.79.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, October 16th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.05). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.During the same period last year, the business earned $0.24 EPS. Insteel Industries’s quarterly revenue was up 32.0% compared to the same quarter last year. Sell-side analysts forecast that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 26th. Investors of record on Friday, September 12th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, September 12th. Insteel Industries’s dividend payout ratio (DPR) is currently 5.71%.

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.