Insteel Industries, Inc. (NASDAQ:IIIN) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 4.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,942 shares of the industrial products company’s stock after acquiring an additional 3,459 shares during the quarter. Wellington Management Group LLP owned 0.40% of Insteel Industries worth $2,946,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IIIN. Scarborough Advisors LLC acquired a new position in shares of Insteel Industries during the fourth quarter valued at $44,000. StoneX Group Inc. increased its stake in Insteel Industries by 10.2% during the 4th quarter. StoneX Group Inc. now owns 43,908 shares of the industrial products company’s stock valued at $1,681,000 after buying an additional 4,078 shares during the period. Isthmus Partners LLC raised its position in shares of Insteel Industries by 3.4% during the 4th quarter. Isthmus Partners LLC now owns 70,271 shares of the industrial products company’s stock worth $2,691,000 after buying an additional 2,304 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Insteel Industries by 1.2% in the 4th quarter. Franklin Resources Inc. now owns 644,746 shares of the industrial products company’s stock worth $24,687,000 after acquiring an additional 7,505 shares during the period. Finally, First Eagle Investment Management LLC boosted its holdings in shares of Insteel Industries by 41.9% in the fourth quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock valued at $9,531,000 after acquiring an additional 73,540 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

NASDAQ IIIN opened at $30.96 on Monday. The firm has a market capitalization of $603.10 million, a PE ratio of 24.97, a P/E/G ratio of 1.66 and a beta of 1.15. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38. The company’s 50 day simple moving average is $32.04 and its 200 day simple moving average is $34.55.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings data on Thursday, April 25th. The industrial products company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.22 by $0.13. Insteel Industries had a return on equity of 6.78% and a net margin of 4.24%. The company had revenue of $127.40 million for the quarter, compared to the consensus estimate of $134.89 million. During the same quarter in the previous year, the business earned $0.26 EPS. The company’s quarterly revenue was down 19.9% compared to the same quarter last year. Sell-side analysts anticipate that Insteel Industries, Inc. will post 1.55 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.39%. Insteel Industries’s dividend payout ratio (DPR) is 9.68%.

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.