Two Sigma Investments LP lifted its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 157.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 54,618 shares of the industrial products company's stock after purchasing an additional 33,413 shares during the quarter. Two Sigma Investments LP owned about 0.28% of Insteel Industries worth $1,475,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC increased its holdings in Insteel Industries by 535.5% in 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 during the period. AlphaQuest LLC acquired a new stake in shares of Insteel Industries during the 4th quarter worth approximately $83,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Insteel Industries during the 4th quarter worth approximately $97,000. State of Wyoming grew its stake in shares of Insteel Industries by 76.4% during the 4th quarter. State of Wyoming now owns 5,554 shares of the industrial products company's stock worth $150,000 after purchasing an additional 2,406 shares during the period. Finally, Quantbot Technologies LP grew its stake in shares of Insteel Industries by 106.5% during 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. 83.27% of the stock is owned by hedge funds and other institutional investors.
Insteel Industries Stock Up 0.9%
Shares of NASDAQ IIIN traded up $0.31 during midday trading on Friday, reaching $35.87. 94,073 shares of the stock were exchanged, compared to its average volume of 147,502. The firm has a market cap of $696.31 million, a price-to-earnings ratio of 36.23, a PEG ratio of 1.81 and a beta of 0.72. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $37.61. The firm has a 50-day simple moving average of $32.40 and a two-hundred day simple moving average of $29.66.
Insteel Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 27th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.03 per share. The ex-dividend date is Friday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.33%. Insteel Industries's payout ratio is 10.34%.
About Insteel Industries
(
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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