BBT Capital Management LLC Invests $796,000 in Insteel Industries Inc (IIIN)

BBT Capital Management LLC bought a new position in Insteel Industries Inc (NASDAQ:IIIN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,175 shares of the industrial products company’s stock, valued at approximately $796,000. BBT Capital Management LLC owned approximately 0.12% of Insteel Industries as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Insteel Industries in the second quarter worth approximately $141,000. SG Americas Securities LLC bought a new position in shares of Insteel Industries in the second quarter worth approximately $141,000. Municipal Employees Retirement System of Michigan lifted its stake in shares of Insteel Industries by 21.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 8,240 shares of the industrial products company’s stock worth $276,000 after buying an additional 1,440 shares in the last quarter. O Shaughnessy Asset Management LLC bought a new position in shares of Insteel Industries in the third quarter worth approximately $295,000. Finally, Global X Management Co LLC lifted its stake in shares of Insteel Industries by 17.2% in the second quarter. Global X Management Co LLC now owns 10,611 shares of the industrial products company’s stock worth $354,000 after buying an additional 1,558 shares in the last quarter. Hedge funds and other institutional investors own 78.20% of the company’s stock.

IIIN opened at $26.92 on Friday. Insteel Industries Inc has a twelve month low of $25.16 and a twelve month high of $43.78. The company has a market cap of $517.47 million, a PE ratio of 16.12 and a beta of 2.44.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, October 18th. The industrial products company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). Insteel Industries had a net margin of 8.00% and a return on equity of 14.20%. The company had revenue of $121.40 million for the quarter, compared to analysts’ expectations of $130.38 million. During the same period in the previous year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was up 25.3% on a year-over-year basis.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 4th. Stockholders of record on Friday, December 14th will be issued a dividend of $0.03 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.45%.

Separately, BidaskClub downgraded shares of Insteel Industries from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 18th.

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Insteel Industries Company 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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