Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by TD Asset Management Inc

TD Asset Management Inc decreased its position in shares of Insteel Industries, Inc. (NASDAQ:IIINFree Report) by 4.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 60,200 shares of the industrial products company’s stock after selling 2,500 shares during the quarter. TD Asset Management Inc owned 0.31% of Insteel Industries worth $1,954,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of IIIN. Franklin Resources Inc. lifted its holdings in shares of Insteel Industries by 101.2% during the second quarter. Franklin Resources Inc. now owns 434,276 shares of the industrial products company’s stock worth $13,515,000 after purchasing an additional 218,408 shares during the period. Captrust Financial Advisors lifted its holdings in shares of Insteel Industries by 11,836.4% during the second quarter. Captrust Financial Advisors now owns 142,401 shares of the industrial products company’s stock worth $4,795,000 after purchasing an additional 141,208 shares during the period. Citadel Advisors LLC raised its position in Insteel Industries by 498.4% during the second quarter. Citadel Advisors LLC now owns 154,789 shares of the industrial products company’s stock valued at $5,212,000 after acquiring an additional 128,920 shares in the last quarter. Pacer Advisors Inc. purchased a new position in Insteel Industries during the second quarter valued at approximately $4,002,000. Finally, BlackRock Inc. raised its position in Insteel Industries by 3.7% during the third quarter. BlackRock Inc. now owns 3,339,057 shares of the industrial products company’s stock valued at $88,586,000 after acquiring an additional 117,907 shares in the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on Insteel Industries in a research report on Thursday, October 5th. They set a “hold” rating for the company.

Get Our Latest Stock Report on Insteel Industries

Insteel Industries Trading Up 0.5 %

Shares of IIIN stock opened at $34.36 on Friday. The stock has a 50 day moving average of $35.66 and a 200 day moving average of $33.02. The stock has a market cap of $668.30 million, a P/E ratio of 20.70, a P/E/G ratio of 2.43 and a beta of 1.06. Insteel Industries, Inc. has a twelve month low of $25.44 and a twelve month high of $39.38.

Insteel Industries (NASDAQ:IIINGet Free Report) last posted its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.06). The business had revenue of $121.80 million during the quarter, compared to analysts’ expectations of $130.07 million. Insteel Industries had a net margin of 4.99% and a return on equity of 8.04%. The firm’s quarterly revenue was down 27.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.44 earnings per share. On average, research analysts predict that Insteel Industries, Inc. will post 1.24 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, December 22nd. Stockholders of record on Friday, December 8th were given a $2.50 dividend. This represents a $10.00 dividend on an annualized basis and a dividend yield of 29.10%. The ex-dividend date was Thursday, December 7th. Insteel Industries’s dividend payout ratio (DPR) is presently 7.23%.

Insteel Industries Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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