Invesco Ltd. Has $2.51 Million Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Invesco Ltd. lessened its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 20.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,811 shares of the industrial products company's stock after selling 23,318 shares during the quarter. Invesco Ltd. owned about 0.48% of Insteel Industries worth $2,507,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its position in shares of Insteel Industries by 7.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company's stock worth $273,000 after buying an additional 690 shares during the period. Bridge City Capital LLC boosted its stake in Insteel Industries by 0.8% during the 4th quarter. Bridge City Capital LLC now owns 126,077 shares of the industrial products company's stock worth $3,405,000 after acquiring an additional 1,027 shares during the last quarter. Robotti Robert grew its holdings in Insteel Industries by 0.4% during the fourth quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock valued at $8,083,000 after purchasing an additional 1,110 shares during the period. Smartleaf Asset Management LLC increased 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 purchasing an additional 1,660 shares in the last quarter. Finally, Cardinal Capital Management raised its holdings in Insteel Industries by 6.7% in the fourth quarter. Cardinal Capital Management now owns 36,610 shares of the industrial products company's stock worth $989,000 after purchasing an additional 2,292 shares during the period. Institutional investors and hedge funds own 83.27% of the company's stock.

Insteel Industries Price Performance

Shares of NASDAQ IIIN traded up $1.19 during midday trading on Friday, reaching $35.00. 212,179 shares of the stock were exchanged, compared to its average volume of 142,480. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $35.52. The company has a market capitalization of $679.36 million, a price-to-earnings ratio of 35.35, a P/E/G ratio of 1.81 and a beta of 0.94. The business has a 50-day simple moving average of $28.10 and a two-hundred day simple moving average of $28.39.

Insteel Industries Announces Dividend

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