Owls Nest Partners IA LLC Reduces Holdings in Insteel Industries, Inc. $IIIN

Owls Nest Partners IA LLC decreased its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 92.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,172 shares of the industrial products company’s stock after selling 60,396 shares during the period. Insteel Industries makes up 0.0% of Owls Nest Partners IA LLC’s investment portfolio, making the stock its 17th largest holding. Owls Nest Partners IA LLC’s holdings in Insteel Industries were worth $192,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Mark Sheptoff Financial Planning LLC purchased a new stake in Insteel Industries in the second quarter worth about $60,000. Police & Firemen s Retirement System of New Jersey raised its position in shares of Insteel Industries by 24.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 4,715 shares of the industrial products company’s stock worth $175,000 after acquiring an additional 922 shares in the last quarter. Connors Investor Services Inc. purchased a new position in shares of Insteel Industries in the 2nd quarter valued at approximately $207,000. Maryland State Retirement & Pension System bought a new stake in shares of Insteel Industries during the second quarter valued at approximately $217,000. Finally, Quantbot Technologies LP purchased a new stake in Insteel Industries in the second quarter worth $220,000. 83.27% of the stock is owned by institutional investors.

Insteel Industries Trading Up 1.8%

IIIN opened at $32.63 on Thursday. The company has a market cap of $633.58 million, a price-to-earnings ratio of 32.96, a price-to-earnings-growth ratio of 1.81 and a beta of 0.80. The stock has a fifty day simple moving average of $32.53 and a two-hundred day simple moving average of $35.57. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $41.64.

Insteel Industries (NASDAQ:IIIN) last announced its 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 company’s revenue was up 32.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.24 EPS. On average, analysts predict that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 28th will be paid a dividend of $1.00 per share. The ex-dividend date of this dividend is Friday, November 28th. This represents a $4.00 dividend on an annualized basis and a dividend yield of 12.3%. Insteel Industries’s dividend payout ratio (DPR) 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.