Price T Rowe Associates Inc. MD reduced its position in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 65.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,307 shares of the industrial products company's stock after selling 37,929 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.10% of Insteel Industries worth $549,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the company. Hsbc Holdings PLC bought a new position in shares of Insteel Industries in the fourth quarter valued at approximately $4,527,000. MetLife Investment Management LLC lifted its position in Insteel Industries by 8.5% during the fourth quarter. MetLife Investment Management LLC now owns 11,482 shares of the industrial products company's stock valued at $310,000 after purchasing an additional 902 shares during the last quarter. CANADA LIFE ASSURANCE Co lifted its position in Insteel Industries by 19.8% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,431 shares of the industrial products company's stock valued at $551,000 after purchasing an additional 3,375 shares during the last quarter. Marshall Wace LLP bought a new stake in Insteel Industries during the fourth quarter valued at approximately $257,000. Finally, Barclays PLC lifted its position in Insteel Industries by 4.2% during the fourth quarter. Barclays PLC now owns 33,767 shares of the industrial products company's stock valued at $912,000 after purchasing an additional 1,376 shares during the last quarter. 83.27% of the stock is currently owned by institutional investors.
Insteel Industries Stock Performance
Insteel Industries stock traded down $0.18 during mid-day trading on Monday, hitting $37.16. 105,284 shares of the company traded hands, compared to its average volume of 145,192. Insteel Industries, Inc. has a one year low of $22.49 and a one year high of $37.61. The stock has a market cap of $721.35 million, a price-to-earnings ratio of 37.54, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72. The stock has a fifty day moving average price of $30.04 and a 200-day moving average price of $29.06.
Insteel Industries Profile
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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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