GSA Capital Partners LLP Has $461,000 Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

GSA Capital Partners LLP trimmed its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 39.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,836 shares of the industrial products company’s stock after selling 9,598 shares during the quarter. GSA Capital Partners LLP owned about 0.08% of Insteel Industries worth $461,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. increased its holdings in Insteel Industries by 14.6% during the 2nd quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock worth $14,480,000 after purchasing an additional 59,591 shares in the last quarter. First Eagle Investment Management LLC increased its holdings in Insteel Industries by 26.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock worth $10,954,000 after purchasing an additional 74,791 shares in the last quarter. Oppenheimer & Co. Inc. increased its holdings in Insteel Industries by 2.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 275,387 shares of the industrial products company’s stock worth $8,526,000 after purchasing an additional 5,313 shares in the last quarter. Robotti Robert increased its holdings in Insteel Industries by 6.2% during the 1st quarter. Robotti Robert now owns 262,780 shares of the industrial products company’s stock worth $10,043,000 after purchasing an additional 15,415 shares in the last quarter. Finally, Isthmus Partners LLC increased its holdings in Insteel Industries by 6.8% during the 2nd quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 6,665 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Up 0.9 %

Shares of NASDAQ IIIN opened at $29.77 on Thursday. Insteel Industries, Inc. has a twelve month low of $26.74 and a twelve month high of $39.38. The stock’s 50 day moving average price is $29.61 and its 200-day moving average price is $31.16. The company has a market capitalization of $579.03 million, a PE ratio of 30.07, a PEG ratio of 2.26 and a beta of 1.12.

Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The firm had revenue of $134.30 million for the quarter, compared to the consensus estimate of $140.40 million. As a group, research analysts expect that Insteel Industries, Inc. will post 1.11 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be paid a $0.03 dividend. The ex-dividend date is Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.40%. Insteel Industries’s payout ratio is 12.12%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, October 26th.

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.