Cerity Partners LLC Has $12.68 Million Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Cerity Partners LLC increased its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 132.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 407,788 shares of the industrial products company’s stock after buying an additional 232,514 shares during the quarter. Cerity Partners LLC’s holdings in Insteel Industries were worth $12,678,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in IIIN. First Eagle Investment Management LLC lifted its stake in shares of Insteel Industries by 26.8% during the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock worth $10,954,000 after buying an additional 74,791 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Insteel Industries by 14.6% during the second quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock worth $14,480,000 after acquiring an additional 59,591 shares during the period. Pacer Advisors Inc. grew its position in shares of Insteel Industries by 3.5% in the third quarter. Pacer Advisors Inc. now owns 662,775 shares of the industrial products company’s stock valued at $20,606,000 after purchasing an additional 22,543 shares during the last quarter. Intech Investment Management LLC bought a new position in Insteel Industries during the 3rd quarter worth $690,000. Finally, Cornercap Investment Counsel Inc. acquired a new position in shares of Insteel Industries during the 2nd quarter worth approximately $539,000. 83.27% of the stock is owned by institutional investors.

Insteel Industries Stock Performance

Shares of IIIN opened at $30.95 on Tuesday. Insteel Industries, Inc. has a 52-week low of $26.74 and a 52-week high of $39.38. The firm has a market cap of $602.04 million, a price-to-earnings ratio of 31.26, a PEG ratio of 2.29 and a beta of 1.12. The business’s fifty day moving average is $29.55 and its 200-day moving average is $31.08.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 earnings per share for the quarter, meeting the consensus estimate of $0.24. The business had revenue of $134.30 million for the quarter, compared to analyst estimates of $140.40 million. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. As a group, research analysts forecast that Insteel Industries, Inc. will post 1.11 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Friday, November 29th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date is Friday, November 29th. Insteel Industries’s dividend payout ratio is 12.12%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, October 26th.

About Insteel Industries

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.