American Century Companies Inc. Boosts Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

American Century Companies Inc. raised its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 14.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 467,712 shares of the industrial products company’s stock after acquiring an additional 59,591 shares during the quarter. American Century Companies Inc. owned approximately 2.40% of Insteel Industries worth $14,480,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Isthmus Partners LLC boosted its position in Insteel Industries by 6.8% during the second quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock worth $32,000 after acquiring an additional 6,665 shares during the last quarter. Scarborough Advisors LLC purchased a new position in Insteel Industries in the 4th quarter worth approximately $44,000. nVerses Capital LLC acquired a new position in shares of Insteel Industries during the 2nd quarter worth approximately $121,000. Allspring Global Investments Holdings LLC grew its position in shares of Insteel Industries by 409.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 3,340 shares of the industrial products company’s stock valued at $128,000 after purchasing an additional 2,685 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in shares of Insteel Industries in the second quarter valued at approximately $270,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Performance

Shares of Insteel Industries stock opened at $30.93 on Friday. The business’s 50 day moving average price is $32.44 and its 200 day moving average price is $32.93. The company has a market cap of $602.36 million, a price-to-earnings ratio of 24.94, a PEG ratio of 2.56 and a beta of 1.11. Insteel Industries, Inc. has a one year low of $26.86 and a one year high of $39.38.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, July 18th. The industrial products company reported $0.34 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.09). Insteel Industries had a return on equity of 5.78% and a net margin of 3.67%. The company had revenue of $145.80 million for the quarter, compared to analysts’ expectations of $153.04 million. During the same quarter in the prior year, the firm earned $0.54 EPS. The firm’s revenue was down 12.0% on a year-over-year basis. On average, analysts predict that Insteel Industries, Inc. will post 0.99 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be paid a $0.03 dividend. The ex-dividend date is Friday, September 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. Insteel Industries’s dividend payout ratio (DPR) is 9.68%.

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.