Insteel Industries, Inc. (NASDAQ:IIIN) Shares Purchased by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC boosted its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 26.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 9,931 shares of the industrial products company’s stock after buying an additional 2,079 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Insteel Industries were worth $380,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. New York State Common Retirement Fund raised its position in Insteel Industries by 3.8% in the 4th quarter. New York State Common Retirement Fund now owns 36,582 shares of the industrial products company’s stock valued at $1,401,000 after purchasing an additional 1,336 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Insteel Industries by 15.1% during the fourth quarter. Wedge Capital Management L L P NC now owns 13,253 shares of the industrial products company’s stock worth $507,000 after buying an additional 1,743 shares during the period. Louisiana State Employees Retirement System acquired a new stake in Insteel Industries in the fourth quarter valued at approximately $371,000. Cardinal Capital Management lifted its stake in Insteel Industries by 1.7% in the fourth quarter. Cardinal Capital Management now owns 24,031 shares of the industrial products company’s stock worth $920,000 after acquiring an additional 395 shares during the last quarter. Finally, Cerity Partners LLC acquired a new position in Insteel Industries during the 4th quarter worth approximately $5,501,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insider Transactions at Insteel Industries

In related news, COO Richard Wagner sold 1,715 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.14, for a total value of $61,980.10. Following the completion of the transaction, the chief operating officer now directly owns 40,952 shares of the company’s stock, valued at $1,480,005.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company’s stock.

Insteel Industries Trading Up 2.0 %

Shares of NASDAQ:IIIN opened at $32.36 on Friday. Insteel Industries, Inc. has a 52 week low of $26.86 and a 52 week high of $39.38. The company’s 50 day moving average is $35.49 and its two-hundred day moving average is $34.54. The company has a market cap of $629.40 million, a PE ratio of 25.59, a P/E/G ratio of 2.03 and a beta of 1.14.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, April 25th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. Insteel Industries had a net margin of 4.24% and a return on equity of 6.78%. The firm had revenue of $127.40 million during the quarter, compared to the consensus estimate of $134.89 million. During the same quarter in the previous year, the firm posted $0.26 earnings per share. The company’s revenue was down 19.9% compared to the same quarter last year. As a group, equities research analysts expect that Insteel Industries, Inc. will post 1.3 EPS for the current year.

Insteel Industries Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were issued a $0.03 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.37%. Insteel Industries’s payout ratio is currently 9.68%.

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.