Insteel Industries, Inc. (NASDAQ:IIIN) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. increased its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 1.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 537,495 shares of the industrial products company’s stock after acquiring an additional 5,935 shares during the period. American Century Companies Inc.’s holdings in Insteel Industries were worth $14,518,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new position in shares of Insteel Industries during the 3rd quarter worth $34,000. Point72 DIFC Ltd purchased a new stake in Insteel Industries during the third quarter worth about $37,000. Smartleaf Asset Management LLC grew its position in Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,660 shares during the period. Nisa Investment Advisors LLC increased its holdings in Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after buying an additional 2,498 shares in the last quarter. Finally, AlphaQuest LLC purchased a new position in Insteel Industries in the fourth quarter valued at about $83,000. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

Shares of NASDAQ:IIIN opened at $26.38 on Wednesday. Insteel Industries, Inc. has a 12 month low of $23.60 and a 12 month high of $37.55. The firm has a market capitalization of $512.57 million, a price-to-earnings ratio of 26.65, a price-to-earnings-growth ratio of 1.81 and a beta of 1.13. The business’s 50 day simple moving average is $28.34 and its 200-day simple moving average is $28.66.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The firm had revenue of $129.70 million during the quarter, compared to analyst estimates of $117.45 million. Insteel Industries had a net margin of 3.58% and a return on equity of 5.91%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same period last year, the company posted $0.06 EPS. On average, equities analysts anticipate that Insteel Industries, Inc. will post 1.38 earnings per share for the current year.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.45%. The ex-dividend date of this dividend was Friday, March 14th. Insteel Industries’s dividend payout ratio (DPR) is presently 12.12%.

Insteel Industries 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.