Renaissance Technologies LLC Sells 48,440 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Renaissance Technologies LLC trimmed its holdings in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 58.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,700 shares of the industrial products company's stock after selling 48,440 shares during the quarter. Renaissance Technologies LLC owned about 0.18% of Insteel Industries worth $937,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC lifted its holdings in Insteel Industries by 363.7% in the 3rd quarter. Barclays PLC now owns 32,391 shares of the industrial products company's stock worth $1,007,000 after purchasing an additional 25,405 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of Insteel Industries by 57.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company's stock worth $437,000 after buying an additional 5,121 shares during the period. Nisa Investment Advisors LLC boosted its holdings in shares of Insteel Industries by 3,568.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock worth $69,000 after buying an additional 2,498 shares during the period. Exchange Traded Concepts LLC grew its stake in 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 buying an additional 690 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its holdings in Insteel Industries by 16.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,765 shares of the industrial products company's stock worth $480,000 after acquiring an additional 2,558 shares during the period. 83.27% of the stock is currently owned by institutional investors.

Insteel Industries Stock Performance

Shares of NASDAQ:IIIN traded up $1.19 during midday trading on Friday, hitting $35.00. The company's stock had a trading volume of 212,179 shares, compared to its average volume of 142,480. The stock's 50 day simple moving average is $28.10 and its 200 day simple moving average is $28.39. The stock 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.

Insteel Industries Dividend Announcement

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