Texas Permanent School Fund Corp Has $451,000 Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Texas Permanent School Fund Corp lessened its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 14.5% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 14,556 shares of the industrial products company’s stock after selling 2,465 shares during the period. Texas Permanent School Fund Corp owned approximately 0.07% of Insteel Industries worth $451,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in IIIN. Charles Schwab Investment Management Inc. lifted its position in shares of Insteel Industries by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 160,639 shares of the industrial products company’s stock worth $6,151,000 after purchasing an additional 2,099 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Insteel Industries by 0.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,239,317 shares of the industrial products company’s stock worth $47,454,000 after purchasing an additional 7,809 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Insteel Industries by 1.2% during the 4th quarter. Franklin Resources Inc. now owns 644,746 shares of the industrial products company’s stock worth $24,687,000 after purchasing an additional 7,505 shares during the last quarter. Isthmus Partners LLC lifted its position in shares of Insteel Industries by 3.4% during the 4th quarter. Isthmus Partners LLC now owns 70,271 shares of the industrial products company’s stock worth $2,691,000 after purchasing an additional 2,304 shares during the last quarter. Finally, StoneX Group Inc. lifted its position in shares of Insteel Industries by 10.2% during the 4th quarter. StoneX Group Inc. now owns 43,908 shares of the industrial products company’s stock worth $1,681,000 after purchasing an additional 4,078 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Performance

NASDAQ IIIN opened at $30.93 on Friday. Insteel Industries, Inc. has a twelve month low of $26.86 and a twelve month high of $39.38. The stock has a market capitalization of $602.36 million, a PE ratio of 24.94, a P/E/G ratio of 2.56 and a beta of 1.11. The stock has a 50-day simple moving average of $32.44 and a 200 day simple moving average of $32.93.

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

Insteel Industries Dividend Announcement

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

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.