Hsbc Holdings PLC Buys Shares of 166,806 Insteel Industries, Inc. (NASDAQ:IIIN)

Hsbc Holdings PLC acquired a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 166,806 shares of the industrial products company's stock, valued at approximately $4,527,000. Hsbc Holdings PLC owned about 0.86% of Insteel Industries at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its position in shares of 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 worth $53,000 after purchasing an additional 1,660 shares in the last quarter. Nisa Investment Advisors LLC boosted its position in Insteel Industries by 3,568.6% in the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock valued at $69,000 after buying an additional 2,498 shares during the period. AlphaQuest LLC acquired a new position in shares of Insteel Industries in the fourth quarter worth $83,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Insteel Industries during the fourth quarter worth $97,000. Finally, Quantbot Technologies LP raised its stake in shares of Insteel Industries by 106.5% in the fourth quarter. Quantbot Technologies LP now owns 8,008 shares of the industrial products company's stock valued at $216,000 after acquiring an additional 4,130 shares in the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

Shares of IIIN traded up $0.35 during midday trading on Monday, hitting $35.37. The company had a trading volume of 22,260 shares, compared to its average volume of 142,025. Insteel Industries, Inc. has a 1 year low of $22.49 and a 1 year high of $35.52. The firm has a market capitalization of $686.60 million, a P/E ratio of 35.73, a P/E/G ratio of 1.81 and a beta of 0.94. The company's 50-day simple moving average is $28.10 and its 200-day simple moving average is $28.39.

Insteel Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. The ex-dividend date was Friday, March 14th. Insteel Industries's dividend payout ratio (DPR) is 10.34%.

Insteel Industries Company 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.