Y Intercept Hong Kong Ltd Takes Position in Insteel Industries, Inc. $IIIN

Y Intercept Hong Kong Ltd bought a new position in Insteel Industries, Inc. (NYSE:IIIN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 40,735 shares of the company’s stock, valued at approximately $1,369,000. Y Intercept Hong Kong Ltd owned approximately 0.21% of Insteel Industries as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Advisory Services Network LLC bought a new stake in Insteel Industries during the third quarter worth about $26,000. BNP Paribas Financial Markets increased its position in shares of Insteel Industries by 74.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 2,248 shares of the company’s stock valued at $84,000 after purchasing an additional 958 shares during the last quarter. Quarry LP purchased a new position in shares of Insteel Industries during the 3rd quarter valued at about $89,000. Smartleaf Asset Management LLC raised its holdings in shares of Insteel Industries by 30.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the company’s stock valued at $95,000 after buying an additional 583 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Insteel Industries by 372.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 3,283 shares of the company’s stock worth $122,000 after buying an additional 2,588 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Wall Street Zen lowered Insteel Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of Insteel Industries from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, Weiss Ratings cut shares of Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Insteel Industries has an average rating of “Hold”.

Insteel Industries Stock Down 0.3%

Shares of NYSE IIIN traded down $0.07 during midday trading on Friday, reaching $29.27. The company had a trading volume of 152,093 shares, compared to its average volume of 456,366. The stock has a market cap of $568.62 million, a PE ratio of 13.42, a price-to-earnings-growth ratio of 1.85 and a beta of 0.52. Insteel Industries, Inc. has a one year low of $24.35 and a one year high of $41.64. The firm’s fifty day moving average price is $28.11 and its 200-day moving average price is $31.49.

Insteel Industries (NYSE:IIIN) last posted its quarterly earnings results on Thursday, April 16th. The company reported $0.27 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.53). Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.The company had revenue of $172.65 million for the quarter. During the same quarter last year, the firm posted $0.52 EPS. Insteel Industries’s revenue was up 7.5% compared to the same quarter last year. As a group, equities research analysts expect that Insteel Industries, Inc. will post 1.32 EPS for the current year.

Insteel Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 26th. Stockholders of record on Friday, June 12th were issued a $0.03 dividend. The ex-dividend date was Friday, June 12th. This represents a $0.12 annualized dividend and a dividend yield of 0.4%. Insteel Industries’s dividend payout ratio (DPR) is currently 5.50%.

Insteel Industries Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.