D. E. Shaw & Co. Inc. Has $1.98 Million Stake in Insteel Industries, Inc. (NASDAQ:IIIN)

D. E. Shaw & Co. Inc. increased its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 127.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,127 shares of the industrial products company's stock after acquiring an additional 40,993 shares during the period. D. E. Shaw & Co. Inc. owned approximately 0.38% of Insteel Industries worth $1,975,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted its position 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 worth $53,000 after purchasing an additional 1,660 shares during the period. Nisa Investment Advisors LLC raised its stake in shares of Insteel Industries by 3,568.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock worth $69,000 after buying an additional 2,498 shares in the last quarter. AlphaQuest LLC acquired a new stake in shares of Insteel Industries in the fourth quarter valued at $83,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Insteel Industries in the fourth quarter valued at $97,000. Finally, Quantbot Technologies LP boosted its stake in Insteel Industries by 106.5% during the fourth quarter. Quantbot Technologies LP now owns 8,008 shares of the industrial products company's stock valued at $216,000 after buying an additional 4,130 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Trading Up 2.6%

NASDAQ:IIIN traded up $0.92 during mid-day trading on Tuesday, reaching $36.58. 130,309 shares of the stock were exchanged, compared to its average volume of 145,766. The firm has a market capitalization of $710.09 million, a PE ratio of 36.95, a PEG ratio of 1.81 and a beta of 0.72. The business has a fifty day moving average price of $31.09 and a 200 day moving average price of $29.35. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $37.61.

Insteel Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date of this dividend is Friday, June 13th. Insteel Industries's dividend payout ratio (DPR) is presently 10.34%.

Insteel Industries Company 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.