Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC reduced its position in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 58.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,700 shares of the industrial products company's stock after selling 48,440 shares during the quarter. Renaissance Technologies LLC owned approximately 0.18% of Insteel Industries worth $937,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Exchange Traded Concepts LLC increased its position in shares of Insteel Industries by 7.3% in the 4th quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company's stock valued at $273,000 after purchasing an additional 690 shares during the last quarter. Bridge City Capital LLC grew its stake in shares of Insteel Industries by 0.8% during the fourth quarter. Bridge City Capital LLC now owns 126,077 shares of the industrial products company's stock worth $3,405,000 after purchasing an additional 1,027 shares in the last quarter. Robotti Robert increased its holdings in Insteel Industries by 0.4% in the fourth quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock valued at $8,083,000 after buying an additional 1,110 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Insteel Industries by 535.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock valued at $53,000 after buying an additional 1,660 shares in the last quarter. Finally, Cardinal Capital Management lifted its holdings in Insteel Industries by 6.7% during the 4th quarter. Cardinal Capital Management now owns 36,610 shares of the industrial products company's stock worth $989,000 after buying an additional 2,292 shares during the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Price Performance

Shares of IIIN traded down $0.15 during mid-day trading on Tuesday, reaching $34.93. The company's stock had a trading volume of 106,685 shares, compared to its average volume of 142,665. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $35.57. The stock has a market cap of $678.06 million, a PE ratio of 35.28, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. The company's 50 day moving average is $28.37 and its 200 day moving average is $28.49.

Insteel Industries Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.34%. Insteel Industries's payout ratio is currently 10.34%.

Insteel Industries 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.