SG Americas Securities LLC Acquires 16,093 Shares of Insteel Industries, Inc. $IIIN

SG Americas Securities LLC boosted its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIINFree Report) by 97.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,532 shares of the industrial products company’s stock after buying an additional 16,093 shares during the quarter. SG Americas Securities LLC owned approximately 0.17% of Insteel Industries worth $1,247,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of IIIN. Mark Sheptoff Financial Planning LLC purchased a new position in shares of Insteel Industries in the 2nd quarter valued at $60,000. BNP Paribas Financial Markets boosted its position in Insteel Industries by 74.3% during the second quarter. BNP Paribas Financial Markets now owns 2,248 shares of the industrial products company’s stock valued at $84,000 after purchasing an additional 958 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Insteel Industries by 30.2% in the second quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the industrial products company’s stock valued at $95,000 after purchasing an additional 583 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in Insteel Industries by 372.4% in the second quarter. Tower Research Capital LLC TRC now owns 3,283 shares of the industrial products company’s stock worth $122,000 after purchasing an additional 2,588 shares in the last quarter. Finally, Police & Firemen s Retirement System of New Jersey raised its holdings in Insteel Industries by 24.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 4,715 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 922 shares in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Key Insteel Industries News

Here are the key news stories impacting Insteel Industries this week:

Insteel Industries Stock Performance

NASDAQ:IIIN opened at $34.21 on Friday. The company’s 50-day simple moving average is $32.03 and its 200-day simple moving average is $35.00. Insteel Industries, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $41.64. The stock has a market capitalization of $663.52 million, a P/E ratio of 34.55, a P/E/G ratio of 1.81 and a beta of 0.81.

Insteel Industries (NASDAQ:IIINGet Free Report) last posted its quarterly earnings data on Thursday, January 15th. The industrial products company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.33 by $0.06. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. During the same quarter last year, the firm posted $0.06 earnings per share. The business’s revenue for the quarter was up 23.3% on a year-over-year basis. On average, research analysts forecast that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 28th were issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a dividend yield of 11.7%. The ex-dividend date was Friday, November 28th. Insteel Industries’s dividend payout ratio is currently 4.94%.

About Insteel Industries

(Free Report)

Insteel Industries, Inc is a leading U.S. manufacturer of fabricated steel wire reinforcing products used in concrete construction. Headquartered in Mount Airy, North Carolina, the company specializes in the production of welded wire reinforcing mesh, steel wire chairs and supports, and various accessories designed to improve the strength and durability of residential, commercial and infrastructure concrete projects. Insteel’s products are engineered to meet industry specifications for load‐bearing capacity, corrosion resistance and ease of installation.

The company operates multiple manufacturing facilities across the United States, employing automated welding and forming processes to ensure consistent product quality and efficient throughput.

See Also

Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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