BlackRock (IIIN) discloses 2.79M shares, 14.4% stake in INSTEEL Industries
BlackRock, Inc. has filed an amended Schedule 13G/A, revealing a beneficial ownership of 2,787,132 shares, representing a 14.4% stake in INSTEEL Industries Inc. The filing indicates BlackRock holds sole voting power over 2,756,005 shares and sole dispositive power over all 2,787,132 shares. Additionally, the iShares Core S&P Small-Cap ETF, an affiliated fund, holds more than 5% of INSTEEL Industries' common stock.
DEC 23·MarketBeat→
Insteel Industries (NYSE:IIIN) Shares Gap Down - Should You Sell?
Insteel Industries (NYSE:IIIN) experienced a premarket share gap down, opening at $31.75 after closing at $32.95, reflecting a 0.4% decline. Analyst sentiment is mixed, with Wall Street Zen upgrading to "Buy" while Zacks and Weiss downgraded to "Hold," resulting in an overall consensus "Hold" rating. The company's recent quarterly earnings slightly missed expectations, reporting EPS of $0.74 against an anticipated $0.75, and revenue of $177.44 million compared to $179.40 million.
OCT 16·Motley Fool▼
Why Insteel Industries Stock Plummeted Today
Investors were not happy with the latest business update from Insteel.
