Thomson Horstmann Bryant Inc Lowers stake in Insteel Industries Inc (IIIN)

Insteel Industries Inc (IIIN) : Thomson Horstmann Bryant Inc reduced its stake in Insteel Industries Inc by 6.63% during the most recent quarter end. The investment management company now holds a total of 488,946 shares of Insteel Industries Inc which is valued at $14,712,385 after selling 34,700 shares in Insteel Industries Inc , the firm said in a disclosure report filed with the SEC on Apr 20, 2016.Insteel Industries Inc makes up approximately 1.71% of Thomson Horstmann Bryant Inc’s portfolio.

Insteel Industries Inc opened for trading at $28.69 and hit $30.2 on the upside on Friday, eventually ending the session at $30.09, with a gain of 4.92% or 1.41 points. The heightened volatility saw the trading volume jump to 2,71,518 shares. Company has a market cap of $565 M.

Other Hedge Funds, Including , Carroll Financial Associates added IIIN to its portfolio by purchasing 14 company shares during the most recent quarter which is valued at $421.Profit Investment Management boosted its stake in IIIN in the latest quarter, The investment management firm added 16,479 additional shares and now holds a total of 71,479 shares of Insteel Industries Inc which is valued at $2,150,803. Insteel Industries Inc makes up approx 0.90% of Profit Investment Management’s portfolio.New York State Teachers Retirement System boosted its stake in IIIN in the latest quarter, The investment management firm added 100 additional shares and now holds a total of 1,600 shares of Insteel Industries Inc which is valued at $48,144.Acadian Asset Management boosted its stake in IIIN in the latest quarter, The investment management firm added 257,916 additional shares and now holds a total of 295,707 shares of Insteel Industries Inc which is valued at $9,054,548. Insteel Industries Inc makes up approx 0.05% of Acadian Asset Management’s portfolio. Eagle Asset Management Inc added IIIN to its portfolio by purchasing 140,267 company shares during the most recent quarter which is valued at $4,109,823. Insteel Industries Inc makes up approx 0.03% of Eagle Asset Management Inc’s portfolio.

On the company’s financial health, Insteel Industries Inc reported $0.38 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.33. The company had revenue of $107.41 million for the quarter, compared to analysts expectations of $92.93 million. The company’s revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.14 EPS.

Many Wall Street Analysts have commented on Insteel Industries Inc. Insteel Industries Inc was Downgraded by Sidoti to ” Neutral” on Apr 1, 2016.

Insteel Industries Inc. (Insteel) is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets PC strand and welded wire reinforcement (WWR) including Engineered Structural Mesh (ESM) concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR). The Company’s products are sold to manufacturers of concrete products that are used in nonresidential construction. Insteel has two wholly owned subsidiaries Insteel Wire Products Company (IWP) an operating subsidiary and Intercontinental Metals Corporation an inactive subsidiary. The Company’s concrete reinforcing products consist of PC strand and WWR. PC strand provides reinforcement for bridges parking decks buildings and other concrete structures. Welded Wire Reinforcement produces engineered reinforcing product for use in nonresidential and residential construction.

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