Insteel Industries, Inc. $IIIN Stock Holdings Decreased by American Century Companies Inc.

American Century Companies Inc. decreased its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 18.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 387,645 shares of the industrial products company’s stock after selling 85,292 shares during the quarter. American Century Companies Inc.’s holdings in Insteel Industries were worth $14,424,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IIIN. Franklin Resources Inc. lifted its position in shares of Insteel Industries by 632.0% in the second 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 last quarter. Russell Investments Group Ltd. raised its stake in shares of Insteel Industries by 85.3% in the first quarter. Russell Investments Group Ltd. now owns 72,268 shares of the industrial products company’s stock valued at $1,901,000 after purchasing an additional 33,264 shares in the last quarter. Strs Ohio bought a new position in shares of Insteel Industries during the 1st quarter worth about $466,000. State of Alaska Department of Revenue boosted its holdings in Insteel Industries by 7.3% during the second quarter. State of Alaska Department of Revenue now owns 11,552 shares of the industrial products company’s stock valued at $429,000 after purchasing an additional 785 shares in the last quarter. Finally, Grace & White Inc. NY acquired a new stake in Insteel Industries in the 2nd quarter valued at $391,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

Shares of NASDAQ IIIN opened at $31.42 on Thursday. The business has a fifty day moving average of $33.17 and a two-hundred day moving average of $35.73. 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 $610.13 million, a PE ratio of 31.74, a PEG ratio of 1.81 and a beta of 0.80.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings results on Thursday, October 16th. The industrial products company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.79 by ($0.05). Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The firm’s revenue was up 32.0% compared to the same quarter last year. During the same quarter last year, the business earned $0.24 earnings per share. Analysts predict that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a yield of 12.7%. Insteel Industries’s payout ratio is currently 5.71%.

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.