Hsbc Holdings PLC bought a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The fund bought 166,806 shares of the industrial products company's stock, valued at approximately $4,527,000. Hsbc Holdings PLC owned 0.86% of Insteel Industries at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Smartleaf Asset Management LLC lifted 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 acquiring an additional 1,660 shares during the period. Nisa Investment Advisors LLC lifted its stake in shares of 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 acquiring an additional 2,498 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Insteel Industries during the 4th quarter valued at approximately $83,000. KLP Kapitalforvaltning AS bought a new position in Insteel Industries during the 4th quarter valued at $97,000. Finally, Quantbot Technologies LP grew its stake 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 in the last quarter. Hedge funds and other institutional investors own 83.27% of the company's stock.
Insteel Industries Stock Up 3.5 %
Shares of NASDAQ:IIIN traded up $1.19 on Friday, reaching $35.00. 212,179 shares of the company's stock were exchanged, compared to its average volume of 142,185. The firm has a market capitalization of $679.36 million, a price-to-earnings ratio of 35.35, a PEG ratio of 1.81 and a beta of 0.94. Insteel Industries, Inc. has a fifty-two week low of $22.49 and a fifty-two week high of $35.52. The business's 50-day moving average is $28.10 and its two-hundred day moving average is $28.40.
Insteel Industries Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were paid a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 annualized dividend and a yield of 0.34%. Insteel Industries's payout ratio is 10.34%.
Insteel Industries Company Profile
(
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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