Kennedy Capital Management LLC Reduces Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Kennedy Capital Management LLC lessened its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 76.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,609 shares of the industrial products company’s stock after selling 57,248 shares during the quarter. Kennedy Capital Management LLC owned 0.09% of Insteel Industries worth $476,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC grew its stake in shares of Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock valued at $53,000 after buying an additional 1,660 shares during the last quarter. Nisa Investment Advisors LLC grew its position in Insteel Industries by 3,568.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after acquiring an additional 2,498 shares during the last quarter. AlphaQuest LLC purchased a new stake in Insteel Industries in the fourth quarter worth $83,000. KLP Kapitalforvaltning AS bought a new stake in shares of Insteel Industries during the fourth quarter worth $97,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of Insteel Industries by 8.0% during the third quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock valued at $183,000 after purchasing an additional 434 shares during the period. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Trading Down 1.1 %

NASDAQ IIIN opened at $26.87 on Wednesday. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $35.52. The company’s 50-day moving average price is $27.54 and its 200-day moving average price is $28.18. The stock has a market cap of $522.11 million, a PE ratio of 27.14, a PEG ratio of 1.81 and a beta of 0.94.

Insteel Industries (NASDAQ:IIIN) last issued its earnings results on Thursday, January 16th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). The company had revenue of $129.70 million for the quarter, compared to analysts’ expectations of $117.45 million. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same period last year, the business posted $0.06 earnings per share. As a group, sell-side analysts forecast that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, March 14th. Insteel Industries’s payout ratio is 12.12%.

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.