Public Employees Retirement System of Ohio Makes New Investment in Insteel Industries, Inc. $IIIN

Public Employees Retirement System of Ohio acquired a new position in Insteel Industries, Inc. (NYSE:IIIN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 17,426 shares of the company’s stock, valued at approximately $526,000. Public Employees Retirement System of Ohio owned about 0.09% of Insteel Industries as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. AQR Capital Management LLC raised its position in Insteel Industries by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock valued at $4,101,000 after buying an additional 17,168 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Insteel Industries during the 1st quarter worth $225,000. Quantbot Technologies LP bought a new stake in shares of Insteel Industries in the 2nd quarter worth $220,000. Arrowstreet Capital Limited Partnership grew its stake in shares of Insteel Industries by 28.9% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock worth $4,602,000 after acquiring an additional 27,702 shares in the last quarter. Finally, Jump Financial LLC raised its holdings in shares of Insteel Industries by 94.3% in the second quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock valued at $646,000 after purchasing an additional 8,429 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insiders Place Their Bets

In other Insteel Industries news, COO Richard Wagner sold 1,640 shares of the firm’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.31, for a total value of $49,708.40. Following the completion of the sale, the chief operating officer directly owned 40,000 shares of the company’s stock, valued at $1,212,400. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 6.20% of the company’s stock.

Analyst Ratings Changes

IIIN has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Insteel Industries from a “sell” rating to a “hold” rating in a research report on Saturday, July 18th. Zacks Research raised shares of Insteel Industries from a “hold” rating to a “strong-buy” rating in a research report on Friday, July 17th. Finally, Weiss Ratings raised shares of Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Insteel Industries has a consensus rating of “Buy”.

Insteel Industries Stock Performance

NYSE IIIN opened at $30.41 on Friday. The company has a market capitalization of $588.72 million, a PE ratio of 16.35, a price-to-earnings-growth ratio of 1.61 and a beta of 0.51. Insteel Industries, Inc. has a 52-week low of $24.35 and a 52-week high of $39.91. The company has a 50-day simple moving average of $31.04 and a 200 day simple moving average of $30.59.

Insteel Industries (NYSE:IIIN) last released its earnings results on Thursday, July 16th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Insteel Industries had a net margin of 5.14% and a return on equity of 9.92%. The firm had revenue of $197.66 million during the quarter. During the same period in the prior year, the company earned $0.78 earnings per share. As a group, analysts forecast that Insteel Industries, Inc. will post 1.59 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently disclosed 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 dividend payout ratio is 6.45%.

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.