Jackson Creek Investment Advisors LLC Buys New Position in Insteel Industries, Inc. (NASDAQ:IIIN)

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

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Insteel Industries by 3.5% during the fourth quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company's stock worth $33,523,000 after purchasing an additional 41,908 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Insteel Industries by 5.7% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 684,467 shares of the industrial products company's stock valued at $18,487,000 after purchasing an additional 36,978 shares in the last quarter. American Century Companies Inc. increased its stake in Insteel Industries by 1.1% during the 4th quarter. American Century Companies Inc. now owns 537,495 shares of the industrial products company's stock worth $14,518,000 after buying an additional 5,935 shares during the period. Robotti Robert boosted its position in Insteel Industries by 0.4% in the 4th quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock valued at $8,083,000 after buying an additional 1,110 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Insteel Industries by 11.5% in the fourth quarter. Northern Trust Corp now owns 227,528 shares of the industrial products company's stock valued at $6,146,000 after buying an additional 23,427 shares during the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Price Performance

Shares of NASDAQ IIIN traded up $0.05 during midday trading on Friday, hitting $36.13. 294,898 shares of the company's stock were exchanged, compared to its average volume of 147,468. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $41.64. The stock's 50 day moving average price is $36.65 and its 200-day moving average price is $31.27. The firm has a market cap of $701.32 million, a P/E ratio of 36.49, a PEG ratio of 1.81 and a beta of 0.72.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its quarterly earnings data on Thursday, July 17th. The industrial products company reported $0.78 earnings per share 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%. The firm's quarterly revenue was up 23.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. On average, analysts expect that Insteel Industries, Inc. will post 1.38 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Friday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.33%. Insteel Industries's dividend payout ratio is presently 10.34%.

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.