Insteel Industries, Inc. $IIIN Shares Bought by Invenomic Capital Management LP

Invenomic Capital Management LP grew its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 63.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 351,653 shares of the industrial products company’s stock after buying an additional 136,494 shares during the period. Invenomic Capital Management LP’s holdings in Insteel Industries were worth $9,248,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CWM LLC boosted its holdings in shares of Insteel Industries by 150.9% in the 1st quarter. CWM LLC now owns 4,744 shares of the industrial products company’s stock valued at $125,000 after buying an additional 2,853 shares in the last quarter. State of Wyoming boosted its holdings in shares of Insteel Industries by 76.4% in the 4th quarter. State of Wyoming now owns 5,554 shares of the industrial products company’s stock valued at $150,000 after buying an additional 2,406 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC acquired a new stake in Insteel Industries during the 1st quarter worth $200,000. Jump Financial LLC acquired a new stake in Insteel Industries during the 1st quarter worth $235,000. Finally, BNP Paribas Financial Markets lifted its stake in shares of Insteel Industries by 67.7% in the 4th quarter. BNP Paribas Financial Markets now owns 9,869 shares of the industrial products company’s stock worth $267,000 after acquiring an additional 3,984 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Performance

IIIN stock opened at $38.88 on Friday. Insteel Industries, Inc. has a one year low of $22.49 and a one year high of $41.64. The stock has a market capitalization of $754.56 million, a PE ratio of 39.27, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78. The company has a fifty day moving average of $37.49 and a 200-day moving average of $33.47.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, July 17th. The industrial products company reported $0.78 EPS for the quarter, topping the consensus estimate of $0.69 by $0.09. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. During the same period in the previous year, the firm posted $0.34 earnings per share. Insteel Industries’s revenue for the quarter was up 23.4% compared to the same quarter last year. Equities analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a $0.03 dividend. The ex-dividend date is Friday, September 12th. This represents a $0.12 annualized dividend and a dividend yield of 0.3%. Insteel Industries’s dividend payout ratio (DPR) is 7.50%.

Insider Activity at Insteel Industries

In related news, SVP James R. York sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $38.50, for a total value of $115,500.00. Following the completion of the sale, the senior vice president owned 9,443 shares in the company, valued at $363,555.50. This trade represents a 24.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.00% of the stock is owned by company insiders.

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.