Yousif Capital Management LLC Sells 344 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Yousif Capital Management LLC trimmed its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 4.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,508 shares of the industrial products company’s stock after selling 344 shares during the period. Yousif Capital Management LLC’s holdings in Insteel Industries were worth $203,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Versor Investments LP acquired a new stake in shares of Insteel Industries in the 3rd quarter valued at about $289,000. Victory Capital Management Inc. grew its holdings in shares of Insteel Industries by 4.8% during the third quarter. Victory Capital Management Inc. now owns 84,767 shares of the industrial products company’s stock worth $2,635,000 after buying an additional 3,886 shares in the last quarter. Intech Investment Management LLC bought a new position in shares of Insteel Industries during the third quarter worth about $690,000. Pacer Advisors Inc. raised 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 buying an additional 22,543 shares during the last quarter. Finally, Cerity Partners LLC lifted its stake in Insteel Industries by 132.7% in the 3rd quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock valued at $12,678,000 after acquiring an additional 232,514 shares in the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Trading Up 1.1 %

Shares of IIIN stock opened at $31.20 on Tuesday. The firm’s fifty day moving average price is $27.98 and its two-hundred day moving average price is $29.61. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40. The firm has a market capitalization of $606.27 million, a P/E ratio of 31.52, a PEG ratio of 1.77 and a beta of 1.14.

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

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. The ex-dividend date of this dividend is Friday, March 14th. Insteel Industries’s dividend payout ratio is currently 12.12%.

Wall Street Analysts Forecast Growth

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

About Insteel Industries

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.