Royce & Associates LP Trims Stock Position in Insteel Industries, Inc. $IIIN

Royce & Associates LP lessened its stake in shares of Insteel Industries, Inc. (NYSE:IIIN) by 31.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 206,388 shares of the company’s stock after selling 96,825 shares during the quarter. Royce & Associates LP owned about 1.06% of Insteel Industries worth $6,536,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of IIIN. Algert Global LLC raised its position in Insteel Industries by 360.5% in the 3rd quarter. Algert Global LLC now owns 166,514 shares of the company’s stock valued at $6,384,000 after purchasing an additional 130,354 shares during the last quarter. SG Capital Management LLC purchased a new stake in Insteel Industries in the 3rd quarter valued at $3,264,000. First Trust Advisors LP purchased a new stake in Insteel Industries in the 3rd quarter valued at $2,332,000. Vanguard Group Inc. raised its position in Insteel Industries by 4.2% in the 3rd quarter. Vanguard Group Inc. now owns 1,397,496 shares of the company’s stock valued at $53,580,000 after purchasing an additional 55,712 shares during the last quarter. Finally, Martingale Asset Management L P acquired a new position in Insteel Industries in the 3rd quarter valued at $2,029,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Down 0.4%

NYSE:IIIN opened at $27.59 on Friday. Insteel Industries, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $41.64. The stock has a market cap of $536.07 million, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.75 and a beta of 0.53. The firm’s fifty day simple moving average is $29.51 and its 200-day simple moving average is $32.06.

Insteel Industries (NYSE:IIIN) last posted its quarterly earnings results on Thursday, April 16th. The company reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.53). Insteel Industries had a return on equity of 11.72% and a net margin of 6.16%.The company had revenue of $172.65 million for the quarter. During the same quarter in the previous year, the business posted $0.52 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts anticipate that Insteel Industries, Inc. will post 1.32 earnings per share for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, June 26th. Stockholders of record on Friday, June 12th will be paid a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, June 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.4%. Insteel Industries’s dividend payout ratio is 5.50%.

Analyst Upgrades and Downgrades

IIIN has been the topic of several recent research reports. Zacks Research cut shares of Insteel Industries from a “hold” rating to a “strong sell” rating in a research note on Monday, April 20th. Wall Street Zen cut shares of Insteel Industries from a “hold” rating to a “sell” rating in a research note on Monday, May 4th. Finally, Weiss Ratings cut shares of Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Reduce”.

Insteel Industries Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.