Public Sector Pension Investment Board Buys 12,956 Shares of Insteel Industries, Inc. $IIIN

Key Points

• The Public Sector Pension Investment Board increased its stake in Insteel Industries by 26.6%, acquiring an additional 12,956 shares during the first quarter, now holding a total of 61,651 shares valued at approximately $1.62 million.
• Insteel Industries recently reported an Earnings Per Share (EPS) of $0.78 for the last quarter, exceeding analysts' estimates by $0.09, while its quarterly revenue rose by 23.4% year-over-year.
• The company announced a quarterly dividend of $0.03 per share to be paid on September 26th, reflecting a 0.3% yield and a dividend payout ratio of 7.50%.

Public Sector Pension Investment Board boosted its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 26.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,651 shares of the industrial products company's stock after buying an additional 12,956 shares during the period. Public Sector Pension Investment Board owned about 0.32% of Insteel Industries worth $1,621,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. CWM LLC boosted its stake in Insteel Industries by 150.9% during the first quarter. CWM LLC now owns 4,744 shares of the industrial products company's stock worth $125,000 after buying an additional 2,853 shares in the last quarter. State of Wyoming boosted its stake in Insteel Industries by 76.4% during the fourth quarter. State of Wyoming now owns 5,554 shares of the industrial products company's stock worth $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 first quarter worth $200,000. Marshall Wace LLP acquired a new stake in Insteel Industries during the fourth quarter worth $257,000. Finally, BNP Paribas Financial Markets boosted its stake in Insteel Industries by 67.7% during the fourth quarter. BNP Paribas Financial Markets now owns 9,869 shares of the industrial products company's stock worth $267,000 after buying an additional 3,984 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Stock Up 0.2%

IIIN traded up $0.09 during trading on Wednesday, reaching $38.77. 68,921 shares of the company's stock were exchanged, compared to its average volume of 157,806. The company has a market capitalization of $752.58 million, a P/E ratio of 39.16, a PEG ratio of 1.81 and a beta of 0.74. The business has a 50 day moving average price of $37.19 and a 200 day moving average price of $33.15. Insteel Industries, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $41.64.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its quarterly earnings data on Thursday, July 17th. The industrial products company reported $0.78 earnings per share (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%.The business's revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 earnings per share. As a group, research analysts forecast that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

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

Insteel Industries Company 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.