Royce & Associates Holds 9.9% Stake in Insteel Industries
Ticker: IIIN · Form: SC 13G/A · Filed: Jan 30, 2024 · CIK: 764401
| Field | Detail |
|---|---|
| Company | Insteel Industries INC (IIIN) |
| Form Type | SC 13G/A |
| Filed Date | Jan 30, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, shareholder-update
TL;DR
**Royce & Associates still owns 9.9% of Insteel, watch for their next move.**
AI Summary
Royce & Associates, LP, a New York-based investment firm, filed an Amendment No. 19 to its SC 13G filing for Insteel Industries, Inc. (NASDAQ: IIIN) on January 30, 2024. This filing indicates that as of December 31, 2023, Royce & Associates beneficially owns 826,134 shares of Insteel's Common Stock, representing 9.9% of the company's outstanding shares. This matters to investors because it shows a significant institutional holder's continued, albeit slightly reduced, stake in the company, signaling their ongoing conviction or re-evaluation of the stock.
Why It Matters
This filing reveals a major institutional investor's current ownership in Insteel Industries, providing insight into their investment strategy and potential impact on the stock's liquidity and trading dynamics.
Risk Assessment
Risk Level: low — This is a routine update from a significant shareholder and does not inherently introduce new risks to the company or its stock.
Analyst Insight
Investors should note Royce & Associates' continued significant ownership, but also recognize this is an amendment, suggesting their position may have changed since the last filing. Further investigation into their historical holdings and Insteel's recent performance could provide more context.
Key Numbers
- 826,134 — Shares Beneficially Owned (Represents the total number of Insteel Industries Common Stock shares Royce & Associates, LP has sole voting power over as of December 31, 2023.)
- 9.9% — Ownership Percentage (Indicates the percentage of Insteel Industries' Common Stock beneficially owned by Royce & Associates, LP, signaling a significant institutional stake.)
Key Players & Entities
- Royce & Associates, LP (company) — the reporting person and institutional investor
- Insteel Industries, Inc. (company) — the subject company whose securities are being reported
- 826,134 (dollar_amount) — number of shares beneficially owned by Royce & Associates, LP
- 9.9% (dollar_amount) — percentage of Insteel Industries' Common Stock beneficially owned by Royce & Associates, LP
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- Royce & Associates will maintain a significant, but potentially fluctuating, stake in Insteel Industries over the next year. (Royce & Associates, LP) — medium confidence, target: December 31, 2024
FAQ
Who is the reporting person in this SC 13G/A filing?
The reporting person is Royce & Associates, LP, as stated in the 'NAME OF REPORTING PERSON' section of the filing.
What is the name of the issuer whose securities are being reported?
The issuer is Insteel Industries, Inc., as identified under 'Name of Issuer' in the Schedule 13G.
How many shares of Insteel Industries, Inc. Common Stock does Royce & Associates, LP beneficially own with sole voting power?
Royce & Associates, LP beneficially owns 826,134 shares with sole voting power, as indicated in 'NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER' on the cover page.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the Schedule 13G.
What is the CUSIP number for the class of securities reported?
The CUSIP number for the Common Stock of Insteel Industries, Inc. is 45774W108, as listed in the Schedule 13G.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 30, 2024 regarding INSTEEL INDUSTRIES INC (IIIN).