New York State Common Retirement Fund Has $1.40 Million Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

New York State Common Retirement Fund increased its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 3.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,582 shares of the industrial products company’s stock after buying an additional 1,336 shares during the period. New York State Common Retirement Fund owned 0.19% of Insteel Industries worth $1,401,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Cardinal Capital Management raised its stake in Insteel Industries by 1.7% in the fourth quarter. Cardinal Capital Management now owns 24,031 shares of the industrial products company’s stock valued at $920,000 after purchasing an additional 395 shares in the last quarter. Quadrature Capital Ltd boosted its position in shares of Insteel Industries by 5.7% during the 3rd quarter. Quadrature Capital Ltd now owns 8,408 shares of the industrial products company’s stock worth $273,000 after acquiring an additional 455 shares in the last quarter. Swiss National Bank increased its stake in Insteel Industries by 1.9% in the third quarter. Swiss National Bank now owns 42,800 shares of the industrial products company’s stock valued at $1,389,000 after acquiring an additional 800 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Insteel Industries by 80.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,254 shares of the industrial products company’s stock valued at $73,000 after acquiring an additional 1,006 shares during the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Insteel Industries by 60.9% during the third quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,400 shares in the last quarter. 83.27% of the stock is currently owned by institutional investors.

Insider Transactions at Insteel Industries

In other Insteel Industries news, COO Richard Wagner sold 1,715 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $36.14, for a total value of $61,980.10. Following the completion of the transaction, the chief operating officer now owns 40,952 shares of the company’s stock, valued at approximately $1,480,005.28. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 5.60% of the company’s stock.

Insteel Industries Stock Performance

Shares of IIIN stock opened at $33.80 on Friday. Insteel Industries, Inc. has a fifty-two week low of $26.86 and a fifty-two week high of $39.38. The company has a market cap of $658.26 million, a PE ratio of 27.26, a P/E/G ratio of 1.78 and a beta of 1.18. The stock’s fifty day moving average price is $34.98 and its two-hundred day moving average price is $34.58.

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

Insteel Industries Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.36%. Insteel Industries’s payout ratio is presently 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.