Jane Street Group LLC decreased its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 17.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 53,318 shares of the industrial products company's stock after selling 11,574 shares during the quarter. Jane Street Group LLC owned 0.27% of Insteel Industries worth $1,440,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors have also recently bought and sold shares of IIIN. Smartleaf Asset Management LLC lifted its stake in Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock valued at $53,000 after buying an additional 1,660 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of 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 valued at $69,000 after acquiring an additional 2,498 shares during the period. AlphaQuest LLC acquired a new stake in shares of Insteel Industries during the fourth quarter valued at approximately $83,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Insteel Industries in the 4th quarter valued at approximately $97,000. Finally, Quantbot Technologies LP boosted its stake in Insteel Industries by 106.5% in the 4th quarter. Quantbot Technologies LP now owns 8,008 shares of the industrial products company's stock worth $216,000 after purchasing an additional 4,130 shares during the period. Hedge funds and other institutional investors own 83.27% of the company's stock.
Insteel Industries Price Performance
NASDAQ IIIN traded down $0.01 on Friday, hitting $35.61. 97,289 shares of the stock were exchanged, compared to its average volume of 145,828. The company's 50-day moving average price is $30.76 and its two-hundred day moving average price is $29.26. Insteel Industries, Inc. has a 52-week low of $22.49 and a 52-week high of $37.61. The company has a market capitalization of $691.32 million, a price-to-earnings ratio of 35.97, a P/E/G ratio of 1.81 and a beta of 0.72.
Insteel Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Investors of record on Friday, June 13th will be given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.34%. The ex-dividend date of this dividend is Friday, June 13th. Insteel Industries's payout ratio is 10.34%.
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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