Insteel Industries, Inc. (NASDAQ:IIIN) Stock Position Raised by Point72 Asset Management L.P.

Point72 Asset Management L.P. boosted its holdings in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 1,402.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,523 shares of the industrial products company's stock after acquiring an additional 15,423 shares during the quarter. Point72 Asset Management L.P. owned 0.09% of Insteel Industries worth $446,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in Insteel Industries by 3.5% in the 4th 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. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Insteel Industries by 5.7% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 684,467 shares of the industrial products company's stock valued at $18,487,000 after acquiring an additional 36,978 shares during the period. American Century Companies Inc. increased its position in Insteel Industries by 1.1% in the 4th quarter. American Century Companies Inc. now owns 537,495 shares of the industrial products company's stock valued at $14,518,000 after acquiring an additional 5,935 shares during the period. First Eagle Investment Management LLC increased its position in 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 period. Finally, Robotti Robert increased its position in Insteel Industries by 0.4% in the 4th quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock valued at $8,083,000 after acquiring an additional 1,110 shares during the period. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Trading Up 2.6%

IIIN traded up $0.92 during trading hours on Tuesday, hitting $36.58. The company's stock had a trading volume of 130,309 shares, compared to its average volume of 145,766. The company has a 50-day simple moving average of $30.91 and a 200 day simple moving average of $29.30. 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. Insteel Industries, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $37.61.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Friday, June 13th. Insteel Industries's payout ratio is currently 10.34%.

About Insteel Industries

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.