Two Sigma Advisers LP Raises Stock Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Two Sigma Advisers LP raised its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 209.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,800 shares of the industrial products company's stock after purchasing an additional 25,600 shares during the period. Two Sigma Advisers LP owned 0.19% of Insteel Industries worth $1,021,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in IIIN. Invenomic Capital Management LP bought a new position in shares of Insteel Industries during the 4th quarter valued at about $5,811,000. Hsbc Holdings PLC bought a new position in shares of Insteel Industries during the 4th quarter valued at about $4,527,000. Oppenheimer & Close LLC bought a new position in shares of Insteel Industries in the 4th quarter valued at about $3,710,000. First Eagle Investment Management LLC lifted its holdings in shares of Insteel Industries by 17.8% in the 4th quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company's stock valued at $12,688,000 after acquiring an additional 70,878 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Insteel Industries by 36.5% in the 4th quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company's stock valued at $6,794,000 after acquiring an additional 67,244 shares during the last quarter. Institutional investors own 83.27% of the company's stock.

Insteel Industries Trading Down 0.4%

Shares of NASDAQ:IIIN traded down $0.14 during trading on Thursday, reaching $35.50. The company's stock had a trading volume of 94,101 shares, compared to its average volume of 147,388. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $37.61. The firm's 50 day simple moving average is $32.21 and its two-hundred day simple moving average is $29.62. The stock has a market capitalization of $689.18 million, a PE ratio of 35.86, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date is Friday, June 13th. Insteel Industries's dividend payout ratio (DPR) is currently 10.34%.

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.