Cubist Systematic Strategies LLC Increases Stake in Insteel Industries, Inc. (NASDAQ:IIIN)

Cubist Systematic Strategies LLC raised its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 109.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 65,593 shares of the industrial products company's stock after acquiring an additional 34,344 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.34% of Insteel Industries worth $1,772,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Barclays PLC boosted its position in Insteel Industries by 363.7% during the third quarter. Barclays PLC now owns 32,391 shares of the industrial products company's stock worth $1,007,000 after purchasing an additional 25,405 shares during the period. Principal Financial Group Inc. raised its stake in Insteel Industries by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company's stock valued at $2,555,000 after purchasing an additional 2,746 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Insteel Industries in the fourth quarter valued at about $929,000. Smartleaf Asset Management LLC raised its stake in Insteel Industries by 535.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock valued at $53,000 after purchasing an additional 1,660 shares in the last quarter. Finally, Nisa Investment Advisors LLC raised its stake in Insteel Industries by 3,568.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock worth $69,000 after acquiring an additional 2,498 shares in the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Trading Up 1.5%

NASDAQ IIIN traded up $0.55 during trading on Friday, hitting $37.36. 115,036 shares of the company's stock were exchanged, compared to its average volume of 145,352. The stock's 50 day moving average price is $29.83 and its two-hundred day moving average price is $28.99. Insteel Industries, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $37.61. The company has a market cap of $725.31 million, a PE ratio of 37.74, a P/E/G ratio of 1.81 and a beta of 0.72.

Insteel Industries Profile

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.