Cubist Systematic Strategies LLC boosted its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 109.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm 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 about 0.34% of Insteel Industries worth $1,772,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Barclays PLC lifted its holdings in shares of 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. JPMorgan Chase & Co. lifted its stake in shares of Insteel Industries by 57.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company's stock worth $437,000 after acquiring an additional 5,121 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 2,498 shares in the last quarter. Exchange Traded Concepts LLC boosted its holdings in shares of Insteel Industries by 7.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company's stock valued at $273,000 after acquiring an additional 690 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC increased its stake in shares of Insteel Industries by 16.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 17,765 shares of the industrial products company's stock worth $480,000 after acquiring an additional 2,558 shares during the period. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
Insteel Industries Stock Performance
NASDAQ:IIIN traded up $0.55 during mid-day trading on Friday, reaching $37.36. The stock had a trading volume of 115,036 shares, compared to its average volume of 144,656. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $37.61. The business has a 50 day simple moving average of $29.62 and a 200 day simple moving average of $28.89. The firm has a market capitalization of $725.31 million, a price-to-earnings ratio of 37.74, a PEG ratio of 1.81 and a beta of 0.72.
Insteel Industries Profile
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Free Report)
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.
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