Royce & Associates LP Purchases 619 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Royce & Associates LP increased its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 0.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 813,104 shares of the industrial products company’s stock after acquiring an additional 619 shares during the period. Royce & Associates LP owned about 4.18% of Insteel Industries worth $25,279,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in IIIN. Allspring Global Investments Holdings LLC grew its position in shares of Insteel Industries by 409.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 3,340 shares of the industrial products company’s stock valued at $128,000 after buying an additional 2,685 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Insteel Industries by 76.9% during the 1st quarter. BNP Paribas Financial Markets now owns 9,264 shares of the industrial products company’s stock valued at $354,000 after purchasing an additional 4,028 shares in the last quarter. UniSuper Management Pty Ltd bought a new stake in shares of Insteel Industries during the 1st quarter valued at about $390,000. Robotti Robert boosted its position in shares of Insteel Industries by 6.2% during the 1st quarter. Robotti Robert now owns 262,780 shares of the industrial products company’s stock valued at $10,043,000 after purchasing an additional 15,415 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC boosted its position in shares of Insteel Industries by 10.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 12,887 shares of the industrial products company’s stock valued at $399,000 after purchasing an additional 1,180 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

Shares of Insteel Industries stock opened at $30.13 on Friday. Insteel Industries, Inc. has a one year low of $26.74 and a one year high of $39.38. The stock’s 50-day moving average is $29.65 and its 200 day moving average is $31.22. The firm has a market cap of $586.03 million, a price-to-earnings ratio of 30.43, a PEG ratio of 2.27 and a beta of 1.12.

Insteel Industries (NASDAQ:IIIN) last posted its quarterly 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 business had revenue of $134.30 million for the quarter, compared to the consensus estimate of $140.40 million. On average, sell-side analysts expect that Insteel Industries, Inc. will post 1.11 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

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

Wall Street Analysts Forecast Growth

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

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.