First Eagle Investment Management LLC Raises Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

First Eagle Investment Management LLC increased its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 41.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 248,927 shares of the industrial products company's stock after purchasing an additional 73,540 shares during the quarter. First Eagle Investment Management LLC owned 1.28% of Insteel Industries worth $9,531,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in IIIN. Allspring Global Investments Holdings LLC grew its position in shares of Insteel Industries by 80.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,254 shares of the industrial products company's stock valued at $73,000 after buying an additional 1,006 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of Insteel Industries by 60.9% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the industrial products company's stock worth $120,000 after purchasing an additional 1,400 shares during the period. SG Americas Securities LLC bought a new stake in shares of Insteel Industries in the 3rd quarter worth approximately $162,000. Arizona State Retirement System acquired a new position in Insteel Industries during the 4th quarter valued at approximately $208,000. Finally, Raymond James Financial Services Advisors Inc. bought a new position in Insteel Industries during the 4th quarter worth $223,000. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Stock Down 0.6 %

IIIN stock traded down $0.21 during mid-day trading on Friday, reaching $32.66. The company had a trading volume of 44,623 shares, compared to its average volume of 89,915. Insteel Industries, Inc. has a one year low of $26.86 and a one year high of $39.38. The stock has a market capitalization of $636.05 million, a P/E ratio of 26.34, a P/E/G ratio of 1.77 and a beta of 1.18. The stock's 50-day simple moving average is $34.74 and its two-hundred day simple moving average is $34.86.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last posted its earnings results on Thursday, April 25th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.22 by $0.13. The firm had revenue of $127.40 million during the quarter, compared to analyst estimates of $134.89 million. Insteel Industries had a net margin of 4.24% and a return on equity of 6.78%. Insteel Industries's revenue was down 19.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.26 EPS. On average, research analysts forecast that Insteel Industries, Inc. will post 1.55 EPS for the current fiscal year.

Insider Activity

In related news, COO Richard Wagner sold 1,715 shares of the company's stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $36.14, for a total value of $61,980.10. Following the completion of the sale, the chief operating officer now owns 40,952 shares of the company's stock, valued at $1,480,005.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.60% of the company's stock.

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.