Mark Sheptoff Financial Planning LLC Takes $60,000 Position in Insteel Industries, Inc. $IIIN

Mark Sheptoff Financial Planning LLC purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,600 shares of the industrial products company’s stock, valued at approximately $60,000.

A number of other large investors have also recently bought and sold shares of the business. Principal Financial Group Inc. boosted its stake in shares of Insteel Industries by 2.4% during the first quarter. Principal Financial Group Inc. now owns 96,847 shares of the industrial products company’s stock worth $2,547,000 after buying an additional 2,244 shares during the period. Linden Thomas Advisory Services LLC lifted its position in Insteel Industries by 18.1% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 20,984 shares of the industrial products company’s stock worth $552,000 after acquiring an additional 3,219 shares during the period. CWM LLC lifted its position in Insteel Industries by 150.9% during the 1st quarter. CWM LLC now owns 4,744 shares of the industrial products company’s stock worth $125,000 after acquiring an additional 2,853 shares during the period. Isthmus Partners LLC grew its stake in shares of Insteel Industries by 3.9% in the 1st quarter. Isthmus Partners LLC now owns 94,819 shares of the industrial products company’s stock valued at $2,494,000 after purchasing an additional 3,576 shares during the last quarter. Finally, Victory Capital Management Inc. increased its holdings in shares of Insteel Industries by 3.4% in the first quarter. Victory Capital Management Inc. now owns 91,367 shares of the industrial products company’s stock valued at $2,403,000 after purchasing an additional 3,000 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Performance

Shares of IIIN opened at $31.28 on Friday. The stock has a market capitalization of $607.39 million, a P/E ratio of 31.60, a P/E/G ratio of 1.81 and a beta of 0.83. Insteel Industries, Inc. has a 1 year low of $22.49 and a 1 year high of $41.64. The company’s fifty day moving average is $35.85 and its two-hundred day moving average is $36.17.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, October 16th. The industrial products company reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.79 by ($0.05). Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.During the same quarter in the previous year, the firm earned $0.24 EPS. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. Sell-side analysts predict that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Stockholders of record on Friday, September 12th were issued a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Friday, September 12th. Insteel Industries’s dividend payout ratio (DPR) is currently 5.71%.

Insider Buying and Selling

In other Insteel Industries news, SVP James R. York sold 3,000 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were sold at an average price of $38.50, for a total transaction of $115,500.00. Following the transaction, the senior vice president directly owned 9,443 shares in the company, valued at approximately $363,555.50. This represents a 24.11% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.00% of the company’s stock.

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.