Insteel Industries, Inc. $IIIN Shares Sold by Royce & Associates LP

Royce & Associates LP cut its stake in shares of Insteel Industries, Inc. (NYSE:IIIN) by 31.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 206,388 shares of the company’s stock after selling 96,825 shares during the quarter. Royce & Associates LP’s holdings in Insteel Industries were worth $6,536,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. SG Capital Management LLC purchased a new stake in shares of Insteel Industries in the 3rd quarter worth about $3,264,000. Public Sector Pension Investment Board boosted its position in shares of Insteel Industries by 44.0% in the 3rd quarter. Public Sector Pension Investment Board now owns 95,338 shares of the company’s stock worth $3,655,000 after buying an additional 29,139 shares in the last quarter. Tredje AP fonden purchased a new stake in shares of Insteel Industries in the 3rd quarter worth about $832,000. GSA Capital Partners LLP boosted its position in shares of Insteel Industries by 234.8% in the 3rd quarter. GSA Capital Partners LLP now owns 36,275 shares of the company’s stock worth $1,391,000 after buying an additional 25,440 shares in the last quarter. Finally, R Squared Ltd purchased a new stake in shares of Insteel Industries in the 3rd quarter worth about $500,000. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Weiss Ratings lowered shares of Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a research report on Wednesday, April 22nd. Wall Street Zen lowered shares of Insteel Industries from a “hold” rating to a “sell” rating in a research report on Monday, May 4th. Finally, Zacks Research lowered shares of Insteel Industries from a “hold” rating to a “strong sell” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Insteel Industries has a consensus rating of “Reduce”.

Insteel Industries Trading Down 0.4%

NYSE:IIIN opened at $27.59 on Friday. The firm has a market cap of $536.07 million, a price-to-earnings ratio of 12.66, a price-to-earnings-growth ratio of 1.75 and a beta of 0.53. The company’s 50-day moving average is $29.51 and its two-hundred day moving average is $32.06. Insteel Industries, Inc. has a 12-month low of $24.35 and a 12-month high of $41.64.

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

Insteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 26th. Shareholders of record on Friday, June 12th will be issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date is Friday, June 12th. Insteel Industries’s dividend payout ratio is 5.50%.

Insteel Industries Company 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.