Total Wealth Planning & Management Inc. Purchases Shares of 15,691 Insteel Industries, Inc. (NASDAQ:IIIN)

Total Wealth Planning & Management Inc. purchased a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 15,691 shares of the industrial products company's stock, valued at approximately $413,000. Total Wealth Planning & Management Inc. owned 0.08% of Insteel Industries at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in shares of Insteel Industries by 535.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock worth $53,000 after buying an additional 1,660 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of Insteel Industries during the 4th quarter valued at $83,000. KLP Kapitalforvaltning AS bought a new position in Insteel Industries during the fourth quarter worth $97,000. State of Wyoming boosted its stake in Insteel Industries by 76.4% during the fourth quarter. State of Wyoming now owns 5,554 shares of the industrial products company's stock worth $150,000 after acquiring an additional 2,406 shares in the last quarter. Finally, Quantbot Technologies LP grew its holdings in Insteel Industries by 106.5% in the fourth 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. 83.27% of the stock is owned by institutional investors.

Insteel Industries Trading Up 2.3%

IIIN opened at $36.96 on Friday. The company has a fifty day moving average price of $35.11 and a two-hundred day moving average price of $30.19. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $37.61. The company has a market cap of $717.37 million, a P/E ratio of 37.33, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72.

Insteel Industries Dividend Announcement

The company also recently announced 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 0.32%. The ex-dividend date of this dividend is Friday, June 13th. Insteel Industries's payout ratio is 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.

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