Hantz Financial Services Inc. makes a new investment in Insteel Industries, Inc. (NASDAQ:IIIN)

Hantz Financial Services Inc. purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) during the second quarter, HoldingsChannel reports. The institutional investor purchased 8,710 shares of the industrial products company’s stock, valued at approximately $270,000.

Other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in shares of Insteel Industries in the first quarter worth $1,717,000. First Eagle Investment Management LLC boosted its holdings in shares of Insteel Industries by 41.9% during the 4th quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock worth $9,531,000 after bought an additional 73,540 shares in the last quarter. Oppenheimer & Co. Inc. boosted its holdings in shares of Insteel Industries by 11.4% in the first 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. Isthmus Partners LLC boosted its holdings in shares of Insteel Industries by 3.4% in the 4th quarter. Isthmus Partners LLC now owns 70,271 shares of the industrial products company’s stock worth $2,691,000 after buying an additional 2,304 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings 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 in the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s shares.

Steel stocks rose 0.9%

Shares of IIIN stock opened at $34.40 on Monday. The company has a market cap of $668.74 million, a price-to-earnings ratio of 27.74, a PEG ratio of 2.90 and a beta of 1.11. The company has a fifty day simple moving average of $32.02 and a 200 day simple moving average of $33.29. Insteel Industries, Inc. it has a 52-week low of $26.86 and a 52-week high of $39.38.

Insteel Industries (NASDAQ:IIIN – Get Your Free Report ) last issued 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 for the quarter, compared to analyst estimates of $153.04 million. Insteel Industries had a return on equity of 5.78% and a net margin of 3.67%. The company’s quarterly revenue was down 12.0% year over year. In the same quarter last year, the company earned $0.54 per share. As a group, analysts expect that Insteel Industries, Inc. to post earnings of 0.99 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 27th. Investors of record on Friday, September 13th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Friday, September 13. This represents an annualized dividend of $0.12 and a yield of 0.35%. Insteel Industries’ dividend payout ratio is currently 9.68%.

Insteel Industries Company Profile

(Free report)

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcement products for concrete construction applications. The company offers Prestressed Concrete Reinforcement Products (PC Lathe) and Welded Wire Reinforcement (WWR) Products. Its PC strand is a seven-strand wire that is used to impart compressive forces to precast concrete elements and structures, providing reinforcement for bridges, parking decks, buildings and other concrete structures.

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