Isthmus Partners LLC Has $2.57 Million Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Isthmus Partners LLC cut its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 20.8% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 82,634 shares of the industrial products company’s stock after selling 21,668 shares during the quarter. Isthmus Partners LLC owned 0.42% of Insteel Industries worth $2,569,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Insteel Industries by 100.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock valued at $175,000 after buying an additional 2,812 shares during the period. BNP Paribas Financial Markets lifted its stake in Insteel Industries by 8.0% in the third quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after buying an additional 434 shares during the period. Quantbot Technologies LP acquired a new position in shares of Insteel Industries during the third quarter worth approximately $121,000. Dynamic Technology Lab Private Ltd raised its position in shares of Insteel Industries by 87.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 19,706 shares of the industrial products company’s stock worth $613,000 after purchasing an additional 9,182 shares during the period. Finally, Cerity Partners LLC raised its position in shares of Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock worth $12,678,000 after purchasing an additional 232,514 shares during the period. 83.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th.

Insteel Industries Stock Down 0.7 %

Shares of NASDAQ:IIIN opened at $30.31 on Friday. Insteel Industries, Inc. has a twelve month low of $26.74 and a twelve month high of $39.38. The stock’s 50 day moving average is $29.46 and its 200-day moving average is $31.05. The firm has a market capitalization of $589.53 million, a price-to-earnings ratio of 30.62, a PEG ratio of 2.28 and a beta of 1.12.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The company had revenue of $134.30 million for the quarter, compared to analyst estimates of $140.40 million. Equities research analysts anticipate that Insteel Industries, Inc. will post 1.11 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $0.12 annualized dividend and a yield of 0.40%. Insteel Industries’s dividend payout ratio (DPR) is currently 12.12%.

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.