CM Wealth Advisors LLC Invests $932,000 in Insteel Industries, Inc. $IIIN

CM Wealth Advisors LLC acquired a new stake in Insteel Industries, Inc. (NYSE:IIIN) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 30,873 shares of the company’s stock, valued at approximately $932,000. CM Wealth Advisors LLC owned 0.16% of Insteel Industries as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in IIIN. AQR Capital Management LLC boosted its stake in Insteel Industries by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock worth $4,101,000 after purchasing an additional 17,168 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in Insteel Industries in the first quarter valued at approximately $225,000. Quantbot Technologies LP acquired a new position in Insteel Industries during the second quarter worth $220,000. Arrowstreet Capital Limited Partnership increased its stake in shares of Insteel Industries by 28.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock worth $4,602,000 after purchasing an additional 27,702 shares during the last quarter. Finally, Jump Financial LLC increased its position in Insteel Industries by 94.3% during the second quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock worth $646,000 after buying an additional 8,429 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

Shares of NYSE IIIN opened at $31.26 on Thursday. The stock has a market cap of $605.17 million, a P/E ratio of 16.81, a price-to-earnings-growth ratio of 1.68 and a beta of 0.50. Insteel Industries, Inc. has a 52-week low of $24.35 and a 52-week high of $39.91. The firm has a 50 day moving average price of $30.72 and a two-hundred day moving average price of $31.27.

Insteel Industries (NYSE:IIIN) last released its earnings results on Thursday, July 16th. The company reported $0.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.01. The business had revenue of $197.66 million for the quarter. Insteel Industries had a net margin of 5.14% and a return on equity of 9.92%. During the same quarter in the previous year, the firm earned $0.78 EPS. Analysts predict that Insteel Industries, Inc. will post 1.59 earnings per share for the current fiscal year.

Insteel Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 11th. Insteel Industries’s dividend payout ratio is 6.45%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on IIIN shares. Zacks Research raised shares of Insteel Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. Weiss Ratings upgraded Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, August 3rd. Finally, Wall Street Zen upgraded shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy”.

Insteel Industries Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.