Nisa Investment Advisors LLC Boosts Stake in Insteel Industries, Inc. (NASDAQ:IIIN)

Nisa Investment Advisors LLC grew its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 3,568.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,568 shares of the industrial products company’s stock after purchasing an additional 2,498 shares during the period. Nisa Investment Advisors LLC’s holdings in Insteel Industries were worth $69,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. State Street Corp grew its stake in shares of Insteel Industries by 4.9% in the third quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock valued at $23,675,000 after buying an additional 35,859 shares in the last quarter. Pacer Advisors Inc. grew its position in Insteel Industries by 3.5% in the 3rd quarter. Pacer Advisors Inc. now owns 662,775 shares of the industrial products company’s stock valued at $20,606,000 after acquiring an additional 22,543 shares in the last quarter. Geode Capital Management LLC increased its stake in Insteel Industries by 0.8% during the third quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock worth $13,523,000 after purchasing an additional 3,612 shares during the period. Cerity Partners LLC lifted its position in shares of Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock worth $12,678,000 after purchasing an additional 232,514 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Insteel Industries by 43.2% during the third quarter. Jacobs Levy Equity Management Inc. now owns 145,264 shares of the industrial products company’s stock worth $4,516,000 after purchasing an additional 43,846 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Trading Up 1.0 %

Shares of Insteel Industries stock opened at $29.37 on Friday. Insteel Industries, Inc. has a 12-month low of $23.60 and a 12-month high of $38.40. The stock has a market cap of $570.62 million, a price-to-earnings ratio of 29.66, a PEG ratio of 1.76 and a beta of 1.14. The company has a fifty day simple moving average of $28.11 and a 200-day simple moving average of $29.96.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The firm had revenue of $129.70 million during the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. Insteel Industries’s quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.06 EPS. On average, analysts forecast that Insteel Industries, Inc. will post 1.33 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.41%. The ex-dividend date of this dividend was Friday, November 29th. Insteel Industries’s dividend payout ratio is presently 12.12%.

Analyst Ratings Changes

Separately, StockNews.com cut shares of Insteel Industries from a “buy” rating to a “hold” rating in a report 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.