Point72 Asset Management L.P. Purchases 15,423 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Point72 Asset Management L.P. boosted its stake 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 institutional investor owned 16,523 shares of the industrial products company's stock after buying an additional 15,423 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.09% of Insteel Industries worth $446,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of IIIN. JPMorgan Chase & Co. boosted its stake in Insteel Industries by 57.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company's stock valued at $437,000 after buying an additional 5,121 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock worth $69,000 after purchasing an additional 2,498 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in Insteel Industries by 7.3% in the fourth quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company's stock worth $273,000 after purchasing an additional 690 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in Insteel Industries by 16.8% in the fourth quarter. Linden Thomas Advisory Services LLC now owns 17,765 shares of the industrial products company's stock worth $480,000 after purchasing an additional 2,558 shares in the last quarter. Finally, Rhumbline Advisers boosted its stake in Insteel Industries by 8.7% in the fourth quarter. Rhumbline Advisers now owns 59,227 shares of the industrial products company's stock worth $1,600,000 after purchasing an additional 4,716 shares in the last quarter. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Stock Performance

Insteel Industries stock traded down $0.15 on Thursday, reaching $35.23. The company's stock had a trading volume of 43,254 shares, compared to its average volume of 145,600. The company has a market cap of $683.88 million, a price-to-earnings ratio of 35.59, a PEG ratio of 1.81 and a beta of 0.72. The business's fifty day moving average price is $31.25 and its 200 day moving average price is $29.39. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $37.61.

Insteel Industries Announces Dividend

The firm also recently disclosed 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 0.34%. The ex-dividend date of this dividend is Friday, June 13th. Insteel Industries's dividend payout ratio 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.