Value Holdings Management CO. LLC Increases Stake in Insteel Industries Inc (NASDAQ:IIIN)

Value Holdings Management CO. LLC boosted its stake in Insteel Industries Inc (NASDAQ:IIIN) by 28.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 54,000 shares of the industrial products company’s stock after purchasing an additional 12,000 shares during the period. Insteel Industries comprises 0.4% of Value Holdings Management CO. LLC’s investment portfolio, making the stock its 27th largest position. Value Holdings Management CO. LLC owned 0.28% of Insteel Industries worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in IIIN. Russell Investments Group Ltd. purchased a new position in Insteel Industries in the 3rd quarter worth approximately $3,636,000. Assenagon Asset Management S.A. purchased a new position in shares of Insteel Industries during the fourth quarter valued at approximately $2,583,000. Morgan Stanley grew its stake in Insteel Industries by 536.5% in the second quarter. Morgan Stanley now owns 121,064 shares of the industrial products company’s stock worth $2,520,000 after purchasing an additional 102,043 shares during the period. First Trust Advisors LP purchased a new stake in Insteel Industries in the third quarter worth $852,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Insteel Industries by 16.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 227,264 shares of the industrial products company’s stock worth $4,884,000 after purchasing an additional 31,964 shares during the period. 80.45% of the stock is currently owned by institutional investors and hedge funds.

IIIN stock traded down $0.46 during midday trading on Wednesday, hitting $20.99. The stock had a trading volume of 4,254 shares, compared to its average volume of 59,184. The firm has a market cap of $421.81 million, a price-to-earnings ratio of 209.42 and a beta of 1.66. The business has a 50-day moving average of $22.78 and a two-hundred day moving average of $21.14. Insteel Industries Inc has a 52-week low of $17.49 and a 52-week high of $26.61.

Insteel Industries (NASDAQ:IIIN) last released its earnings results on Thursday, January 16th. The industrial products company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.14) by $0.17. Insteel Industries had a return on equity of 0.82% and a net margin of 0.45%. The business had revenue of $97.57 million for the quarter.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Thursday, March 12th.

In other Insteel Industries news, VP James F. Petelle sold 1,928 shares of the business’s stock in a transaction on Tuesday, January 21st. The stock was sold at an average price of $25.87, for a total value of $49,877.36. Following the sale, the vice president now directly owns 14,898 shares of the company’s stock, valued at $385,411.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.10% of the company’s stock.

Several equities research analysts recently weighed in on the company. BidaskClub cut Insteel Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 1st. Sidoti cut Insteel Industries from a “buy” rating to a “neutral” rating and set a $28.00 price target on the stock. in a research note on Wednesday, January 22nd.

Insteel Industries Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed 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.

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

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