Cardinal Capital Management Purchases 3,747 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Cardinal Capital Management raised its position in Insteel Industries, Inc. (NASDAQ:IIIN) by 12.3% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 34,318 shares of the industrial products company’s stock after acquiring an additional 3,747 shares during the period. Cardinal Capital Management owned about 0.18% of Insteel Industries worth $1,067,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in shares of Insteel Industries in the first quarter worth $1,717,000. First Eagle Investment Management LLC increased its stake in Insteel Industries by 12.1% in the 1st quarter. First Eagle Investment Management LLC now owns 279,015 shares of the industrial products company’s stock valued at $10,664,000 after buying an additional 30,088 shares during the last quarter. Oppenheimer & Co. Inc. lifted its position in Insteel Industries by 11.4% during the 1st quarter. Oppenheimer & Co. Inc. now owns 270,074 shares of the industrial products company’s stock worth $10,322,000 after buying an additional 27,553 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Insteel Industries by 4.7% during the 4th quarter. Wellington Management Group LLP now owns 76,942 shares of the industrial products company’s stock worth $2,946,000 after buying an additional 3,459 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Insteel Industries by 9.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 11,871 shares of the industrial products company’s stock valued at $454,000 after acquiring an additional 1,059 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Trading Down 2.5 %

NASDAQ IIIN opened at $27.34 on Friday. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38. The stock has a 50 day moving average of $31.36 and a 200-day moving average of $32.05. The company has a market cap of $532.45 million, a PE ratio of 22.05, a PEG ratio of 1.21 and a beta of 1.10.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, July 18th. The industrial products company reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.09). The firm had revenue of $145.80 million during the quarter, compared to the consensus estimate of $153.04 million. Insteel Industries had a net margin of 3.67% and a return on equity of 5.78%. The business’s revenue was down 12.0% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. As a group, sell-side analysts predict that Insteel Industries, Inc. will post 0.99 EPS for the current fiscal year.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date was Friday, September 13th. Insteel Industries’s dividend payout ratio (DPR) is presently 9.68%.

Wall Street Analyst Weigh In

Separately, StockNews.com raised Insteel Industries from a “hold” rating to a “buy” rating in a research report on Friday.

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.