Nisa Investment Advisors LLC Has $342,000 Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Nisa Investment Advisors LLC raised its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 341.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,922 shares of the industrial products company’s stock after buying an additional 6,900 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Insteel Industries were worth $342,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of IIIN. Point72 Hong Kong Ltd acquired a new position in shares of Insteel Industries during the 2nd quarter worth about $38,000. Qube Research & Technologies Ltd acquired a new position in shares of Insteel Industries in the 3rd quarter valued at approximately $70,000. Public Employees Retirement System of Ohio acquired a new position in shares of Insteel Industries in the 2nd quarter valued at approximately $72,000. Allspring Global Investments Holdings LLC grew its position in shares of Insteel Industries by 80.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,254 shares of the industrial products company’s stock valued at $73,000 after purchasing an additional 1,006 shares during the period. Finally, UBS Group AG grew its position in shares of Insteel Industries by 182.5% in the 3rd quarter. UBS Group AG now owns 2,822 shares of the industrial products company’s stock valued at $75,000 after purchasing an additional 1,823 shares during the period. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of IIIN opened at $32.97 on Friday. The stock has a 50 day simple moving average of $35.72 and a 200 day simple moving average of $34.50. Insteel Industries, Inc. has a 52-week low of $25.44 and a 52-week high of $39.38. The firm has a market capitalization of $641.27 million, a PE ratio of 28.67, a P/E/G ratio of 2.13 and a beta of 1.14.

Insteel Industries (NASDAQ:IIIN) last issued its quarterly earnings data on Thursday, January 18th. The industrial products company reported $0.06 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.12 by ($0.06). Insteel Industries had a net margin of 3.71% and a return on equity of 6.16%. The business had revenue of $121.80 million during the quarter, compared to analyst estimates of $130.07 million. During the same quarter in the prior year, the firm posted $0.44 earnings per share. Insteel Industries’s revenue for the quarter was down 27.0% compared to the same quarter last year. Equities research analysts predict that Insteel Industries, Inc. will post 1.3 EPS for the current fiscal year.

Insteel Industries Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Friday, March 15th were paid a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.36%. The ex-dividend date was Thursday, March 14th. Insteel Industries’s payout ratio is 10.43%.

Insider Buying and Selling at Insteel Industries

In other Insteel Industries news, COO Richard Wagner sold 1,715 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $36.14, for a total value of $61,980.10. Following the sale, the chief operating officer now owns 40,952 shares in the company, valued at approximately $1,480,005.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.60% of the company’s stock.

About Insteel Industries

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.