BNP Paribas Financial Markets Purchases 434 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

BNP Paribas Financial Markets lifted its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,885 shares of the industrial products company’s stock after purchasing an additional 434 shares during the quarter. BNP Paribas Financial Markets’ holdings in Insteel Industries were worth $183,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. The Manufacturers Life Insurance Company boosted its stake in Insteel Industries by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock worth $236,000 after buying an additional 585 shares in the last quarter. Ellsworth Advisors LLC boosted its position in shares of Insteel Industries by 7.2% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,527 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 1,109 shares in the last quarter. Public Sector Pension Investment Board boosted its position in shares of Insteel Industries by 6.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,861 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 2,489 shares in the last quarter. Cardinal Capital Management increased its stake in Insteel Industries by 12.3% in the third quarter. Cardinal Capital Management now owns 34,318 shares of the industrial products company’s stock valued at $1,067,000 after acquiring an additional 3,747 shares during the period. Finally, Quantbot Technologies LP acquired a new position in Insteel Industries in the third quarter worth about $121,000. 83.27% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Insteel Industries Price Performance

Shares of NASDAQ:IIIN opened at $29.82 on Wednesday. The stock has a market capitalization of $580.06 million, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 2.21 and a beta of 1.11. The business’s fifty day moving average price is $29.22 and its two-hundred day moving average price is $30.78. Insteel Industries, Inc. has a fifty-two week low of $26.74 and a fifty-two week high of $39.38.

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

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 29th. Insteel Industries’s payout ratio 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.