Jacobs Levy Equity Management Inc. reduced its stake in Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 81,790 shares of the industrial products company’s stock after selling 7,923 shares during the period. Jacobs Levy Equity Management Inc. owned 0.42% of Insteel Industries worth $3,126,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC bought a new stake in shares of Insteel Industries during the first quarter worth about $1,717,000. First Eagle Investment Management LLC increased its position in shares of Insteel Industries by 41.9% during the fourth quarter. First Eagle Investment Management LLC now owns 248,927 shares of the industrial products company’s stock worth $9,531,000 after acquiring an additional 73,540 shares in the last quarter. Oppenheimer & Co. Inc. increased its position in shares of Insteel Industries by 11.4% during the first quarter. Oppenheimer & Co. Inc. now owns 270,074 shares of the industrial products company’s stock worth $10,322,000 after acquiring an additional 27,553 shares in the last quarter. Linden Thomas Advisory Services LLC increased its position in shares of Insteel Industries by 26.5% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 9,931 shares of the industrial products company’s stock worth $380,000 after acquiring an additional 2,079 shares in the last quarter. Finally, Cerity Partners LLC bought a new stake in shares of Insteel Industries during the fourth quarter worth about $5,501,000. 83.27% of the stock is owned by institutional investors.
Insteel Industries Price Performance
Shares of NASDAQ:IIIN traded up $0.34 during midday trading on Wednesday, hitting $34.61. 35,079 shares of the company’s stock were exchanged, compared to its average volume of 100,446. The stock has a 50 day moving average price of $31.50 and a 200-day moving average price of $33.69. The company has a market cap of $672.82 million, a PE ratio of 32.83, a price-to-earnings-growth ratio of 2.87 and a beta of 1.11. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38.
Insteel Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.35%. The ex-dividend date was Friday, June 14th. Insteel Industries’s payout ratio is 9.68%.
About Insteel Industries
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.
Featured Stories
- Five stocks we like better than Insteel Industries
- Trading Halts Explained
- Joby Aviation Stock: The Case for Upside Just Got Stronger
- Earnings Per Share Calculator: How to Calculate EPS
- Conviction Firms for Microsoft’s Double-Digit Stock Upside
- REIT Stocks – Best REIT Stocks to Add to Your Portfolio Today
- 5 Aggressive Growth Stocks for Long-Term Investors
Receive News & Ratings for Insteel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insteel Industries and related companies with MarketBeat.com's FREE daily email newsletter.