New York State Teachers Retirement System Sells 1,594 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

New York State Teachers Retirement System lowered its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 24.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,887 shares of the industrial products company’s stock after selling 1,594 shares during the quarter. New York State Teachers Retirement System’s holdings in Insteel Industries were worth $132,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Point72 Asset Management L.P. acquired a new position in shares of Insteel Industries in the 3rd quarter valued at $34,000. Point72 DIFC Ltd bought a new position in Insteel Industries in the 3rd quarter valued at $37,000. Nisa Investment Advisors LLC boosted its holdings in Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 2,498 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of Insteel Industries during the 3rd quarter worth approximately $121,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Insteel Industries by 100.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock valued at $175,000 after purchasing an additional 2,812 shares during the period. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Down 1.2 %

Insteel Industries stock opened at $28.82 on Tuesday. The firm has a market capitalization of $559.90 million, a P/E ratio of 29.11, a PEG ratio of 1.81 and a beta of 1.14. The business has a 50-day moving average of $28.01 and a 200-day moving average of $29.57. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $129.70 million for the quarter, compared to the consensus estimate of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.06 EPS. Research analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.42%. The ex-dividend date is Friday, March 14th. Insteel Industries’s dividend payout ratio (DPR) is currently 12.12%.

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.