Insteel Industries, Inc. (NASDAQ:IIIN) Stake Lowered by Jane Street Group LLC

Jane Street Group LLC lessened its holdings in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 17.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 53,318 shares of the industrial products company's stock after selling 11,574 shares during the period. Jane Street Group LLC owned 0.27% of Insteel Industries worth $1,440,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Insteel Industries by 3.5% in the fourth quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company's stock valued at $33,523,000 after acquiring an additional 41,908 shares during the period. American Century Companies Inc. grew its stake in Insteel Industries by 1.1% during the fourth quarter. American Century Companies Inc. now owns 537,495 shares of the industrial products company's stock worth $14,518,000 after buying an additional 5,935 shares during the last quarter. First Eagle Investment Management LLC grew its stake in Insteel Industries by 17.8% during the fourth quarter. First Eagle Investment Management LLC now owns 469,752 shares of the industrial products company's stock worth $12,688,000 after buying an additional 70,878 shares during the last quarter. Robotti Robert grew its stake in Insteel Industries by 0.4% during the fourth quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock worth $8,083,000 after buying an additional 1,110 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Insteel Industries by 36.5% during the fourth quarter. Bank of New York Mellon Corp now owns 251,547 shares of the industrial products company's stock worth $6,794,000 after buying an additional 67,244 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Price Performance

IIIN opened at $37.16 on Tuesday. Insteel Industries, Inc. has a one year low of $22.49 and a one year high of $37.61. The company's 50 day simple moving average is $30.04 and its 200-day simple moving average is $29.06. The stock has a market capitalization of $721.35 million, a P/E ratio of 37.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.