GSA Capital Partners LLP Has $1.39 Million Holdings in Insteel Industries, Inc. $IIIN

GSA Capital Partners LLP raised its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 234.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,275 shares of the industrial products company’s stock after buying an additional 25,440 shares during the period. GSA Capital Partners LLP owned about 0.19% of Insteel Industries worth $1,391,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of IIIN. Franklin Resources Inc. grew its position in shares of Insteel Industries by 632.0% during the 2nd quarter. Franklin Resources Inc. now owns 87,717 shares of the industrial products company’s stock worth $3,264,000 after buying an additional 75,734 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Insteel Industries in the 2nd quarter worth $768,000. Campbell & CO Investment Adviser LLC bought a new stake in Insteel Industries in the second quarter valued at about $1,025,000. Geode Capital Management LLC boosted its holdings in Insteel Industries by 0.4% during the second quarter. Geode Capital Management LLC now owns 448,861 shares of the industrial products company’s stock worth $16,704,000 after buying an additional 1,919 shares during the last quarter. Finally, Corton Capital Inc. acquired a new position in shares of Insteel Industries during the 2nd quarter worth about $320,000. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of NASDAQ IIIN opened at $37.03 on Thursday. Insteel Industries, Inc. has a 52-week low of $22.49 and a 52-week high of $41.64. The stock has a market cap of $718.31 million, a P/E ratio of 37.41, a P/E/G ratio of 1.81 and a beta of 0.84. The firm has a 50 day moving average price of $33.79 and a 200 day moving average price of $34.58.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings results on Thursday, January 15th. The industrial products company reported $0.39 earnings per share for the quarter, topping analysts’ consensus estimates 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 in the previous year, the business earned $0.06 EPS. The company’s revenue was up 23.3% on a year-over-year basis. Analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current fiscal year.

Insteel Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Investors of record on Friday, March 13th 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 of this dividend is Friday, March 13th. Insteel Industries’s dividend payout ratio is presently 4.94%.

Insteel Industries Company Profile

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.