Principal Financial Group Inc. increased its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 142,073 shares of the industrial products company’s stock after buying an additional 1,853 shares during the period. Principal Financial Group Inc. owned about 0.75% of Insteel Industries worth $4,684,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Royce & Associates LP raised its position in Insteel Industries by 3.4% during the 2nd quarter. Royce & Associates LP now owns 1,748,930 shares of the industrial products company’s stock worth $57,662,000 after purchasing an additional 57,600 shares during the last quarter. Victory Capital Management Inc. grew its position in shares of Insteel Industries by 8.1% in the 2nd quarter. Victory Capital Management Inc. now owns 11,884 shares of the industrial products company’s stock valued at $392,000 after buying an additional 886 shares during the last quarter. Marshall Wace North America L.P. bought a new stake in shares of Insteel Industries in the 2nd quarter valued at about $822,000. BNP Paribas Arbitrage SA grew its position in shares of Insteel Industries by 31.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,198 shares of the industrial products company’s stock valued at $270,000 after buying an additional 1,971 shares during the last quarter. Finally, Legal & General Group Plc grew its position in shares of Insteel Industries by 7.2% in the 2nd quarter. Legal & General Group Plc now owns 31,350 shares of the industrial products company’s stock valued at $1,034,000 after buying an additional 2,104 shares during the last quarter. Institutional investors and hedge funds own 81.29% of the company’s stock.

Shares of Insteel Industries, Inc. (IIIN) opened at 26.04 on Wednesday. The firm has a market cap of $495.41 million, a P/E ratio of 17.48 and a beta of 2.10. Insteel Industries, Inc. has a 52-week low of $22.50 and a 52-week high of $42.81. The firm’s 50-day moving average is $25.01 and its 200-day moving average is $30.48.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, July 20th. The industrial products company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.20). The company had revenue of $96.90 million during the quarter, compared to analysts’ expectations of $122.39 million. Insteel Industries had a return on equity of 13.30% and a net margin of 7.24%. The firm’s quarterly revenue was down 16.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.71 EPS. Analysts anticipate that Insteel Industries, Inc. will post $1.27 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Friday, September 15th were issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.46%. The ex-dividend date was Thursday, September 14th. Insteel Industries’s dividend payout ratio is presently 8.05%.

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Several equities research analysts have recently weighed in on IIIN shares. BidaskClub raised Insteel Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Longbow Research downgraded Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Friday, August 25th.

Insteel Industries Profile

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

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Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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