CM Wealth Advisors LLC Invests $932,000 in Insteel Industries, Inc. $IIIN

CM Wealth Advisors LLC acquired a new stake in Insteel Industries, Inc. (NYSE:IIIN) during the second quarter, Holdings Channel reports. The firm acquired 30,873 shares of the company’s stock, valued at approximately $932,000.

Several other institutional investors have also added to or reduced their stakes in the business. Icon Advisers Inc. Co. bought a new stake in shares of Insteel Industries during the 1st quarter valued at $3,126,000. Y Intercept Hong Kong Ltd bought a new stake in Insteel Industries during the first quarter valued at approximately $1,369,000. Diamond Hill Capital Management LLC Investment Advisor purchased a new position in Insteel Industries in the second quarter worth $9,023,000. Lazard Asset Management LLC boosted its holdings in shares of Insteel Industries by 49.1% in the 1st quarter. Lazard Asset Management LLC now owns 116,990 shares of the company’s stock worth $3,932,000 after purchasing an additional 38,547 shares in the last quarter. Finally, Robotti Robert purchased a new stake in Insteel Industries in the second quarter worth approximately $14,421,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Price Performance

IIIN opened at $31.26 on Thursday. The firm has a market cap of $605.17 million, a PE ratio of 16.81, a P/E/G ratio of 1.68 and a beta of 0.50. Insteel Industries, Inc. has a 1 year low of $24.35 and a 1 year high of $39.91. The stock has a 50-day moving average price of $30.72 and a 200-day moving average price of $31.27.

Insteel Industries (NYSE:IIIN) last released its quarterly earnings data on Thursday, July 16th. The company reported $0.46 EPS for the quarter, topping the consensus estimate of $0.45 by $0.01. Insteel Industries had a return on equity of 9.92% and a net margin of 5.14%.The company had revenue of $197.66 million during the quarter. During the same quarter in the previous year, the business posted $0.78 earnings per share. As a group, sell-side analysts anticipate that Insteel Industries, Inc. will post 1.59 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be issued a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 11th. Insteel Industries’s payout ratio is currently 6.45%.

Analyst Upgrades and Downgrades

Several research firms have commented on IIIN. Wall Street Zen raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. Weiss Ratings upgraded shares of Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, August 3rd. Finally, Zacks Research upgraded shares of Insteel Industries from a “hold” rating to a “strong-buy” rating in a report on Friday, July 17th. One research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy”.

Insteel Industries Profile

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.