Jackson Creek Investment Advisors LLC Acquires Shares of 56,554 Insteel Industries, Inc. (NASDAQ:IIIN)

Jackson Creek Investment Advisors LLC purchased a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 56,554 shares of the industrial products company's stock, valued at approximately $1,487,000. Jackson Creek Investment Advisors LLC owned about 0.29% of Insteel Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of IIIN. Invenomic Capital Management LP bought a new position in shares of Insteel Industries during the fourth quarter worth approximately $5,811,000. Hsbc Holdings PLC bought a new position in shares of Insteel Industries during the fourth quarter worth approximately $4,527,000. Oppenheimer & Close LLC bought a new position in shares of Insteel Industries during the fourth quarter worth approximately $3,710,000. Segall Bryant & Hamill LLC bought a new position in Insteel Industries during the 1st quarter worth $1,628,000. Finally, Vanguard Group Inc. increased its stake in Insteel Industries by 3.5% during the 4th quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company's stock worth $33,523,000 after acquiring an additional 41,908 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Price Performance

Insteel Industries stock traded up $0.89 during mid-day trading on Monday, reaching $37.11. 278,268 shares of the company were exchanged, compared to its average volume of 146,552. The company has a fifty day simple moving average of $36.65 and a 200-day simple moving average of $31.33. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $41.64. The firm has a market cap of $720.38 million, a PE ratio of 37.48, a PEG ratio of 1.81 and a beta of 0.72.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 17th. The industrial products company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. During the same quarter last year, the business earned $0.34 EPS. The firm's revenue was up 23.4% on a year-over-year basis. Sell-side analysts anticipate that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 27th. Investors of record on Friday, June 13th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.32%. The ex-dividend date of this dividend was Friday, June 13th. Insteel Industries's dividend payout ratio (DPR) is currently 7.50%.

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.