Segall Bryant & Hamill LLC Has $2.75 Million Stock Position in Insteel Industries, Inc. $IIIN

Segall Bryant & Hamill LLC increased its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 19.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,963 shares of the industrial products company’s stock after buying an additional 12,058 shares during the period. Segall Bryant & Hamill LLC’s holdings in Insteel Industries were worth $2,752,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of IIIN. Rhumbline Advisers lifted its position in Insteel Industries by 1.8% during the 2nd quarter. Rhumbline Advisers now owns 57,157 shares of the industrial products company’s stock worth $2,127,000 after acquiring an additional 992 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Insteel Industries by 632.0% in the second quarter. Franklin Resources Inc. now owns 87,717 shares of the industrial products company’s stock valued at $3,264,000 after purchasing an additional 75,734 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Insteel Industries in the second quarter worth about $234,000. Intech Investment Management LLC lifted its position in shares of Insteel Industries by 13.3% during the 2nd quarter. Intech Investment Management LLC now owns 9,101 shares of the industrial products company’s stock worth $339,000 after purchasing an additional 1,071 shares during the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Insteel Industries by 189.6% during the 2nd quarter. SG Americas Securities LLC now owns 16,439 shares of the industrial products company’s stock worth $612,000 after purchasing an additional 10,763 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Up 0.3%

IIIN opened at $30.74 on Tuesday. The stock’s 50 day moving average price is $34.23 and its two-hundred day moving average price is $35.99. The firm has a market capitalization of $596.83 million, a P/E ratio of 31.05, a price-to-earnings-growth ratio of 1.81 and a beta of 0.83. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $41.64.

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

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be issued a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 13.0%. Insteel Industries’s dividend payout ratio is 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.