Strs Ohio Buys Shares of 17,700 Insteel Industries, Inc. $IIIN

Key Points

• Strs Ohio has purchased 17,700 shares of Insteel Industries, Inc., valued at approximately $466,000, marking a new stake for the institutional investor.
• Other institutional investors, including MIRAE ASSET GLOBAL ETFS HOLDINGS and Invenomic Capital Management, have also notably increased their positions in Insteel Industries during the first quarter.
• The company recently announced a quarterly dividend of $0.03 per share, contributing to an annualized yield of 0.3% and a payout ratio of 7.50%.

Strs Ohio bought a new stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 17,700 shares of the industrial products company's stock, valued at approximately $466,000. Strs Ohio owned approximately 0.09% of Insteel Industries as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Insteel Industries by 44.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 989,138 shares of the industrial products company's stock valued at $26,014,000 after acquiring an additional 304,671 shares in the last quarter. Invenomic Capital Management LP raised its position in shares of Insteel Industries by 63.4% during the 1st quarter. Invenomic Capital Management LP now owns 351,653 shares of the industrial products company's stock valued at $9,248,000 after acquiring an additional 136,494 shares in the last quarter. Ancora Advisors LLC acquired a new stake in shares of Insteel Industries during the 1st quarter valued at approximately $2,890,000. Charles Schwab Investment Management Inc. raised its position in shares of Insteel Industries by 36.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 253,706 shares of the industrial products company's stock valued at $6,672,000 after acquiring an additional 67,422 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Insteel Industries by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 1,308,508 shares of the industrial products company's stock valued at $34,414,000 after acquiring an additional 67,377 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Trading Up 0.9%

IIIN stock opened at $38.83 on Tuesday. The firm has a market cap of $753.73 million, a P/E ratio of 39.22, a P/E/G ratio of 1.81 and a beta of 0.78. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $41.64. The stock's 50 day simple moving average is $37.49 and its 200 day simple moving average is $34.40.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its quarterly earnings results on Thursday, July 17th. The industrial products company reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarterly revenue was up 23.4% on a year-over-year basis. During the same quarter last year, the company posted $0.34 EPS. On average, research analysts forecast 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 will be paid on Friday, September 26th. Investors of record on Friday, September 12th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. The ex-dividend date is Friday, September 12th. Insteel Industries's dividend payout ratio is presently 7.50%.

Insider Buying and Selling

In related news, SVP James R. York sold 3,000 shares of the company's stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $38.50, for a total transaction of $115,500.00. Following the completion of the transaction, the senior vice president directly owned 9,443 shares in the company, valued at $363,555.50. This represents a 24.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is currently owned by insiders.

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.

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