Marshall Wace LLP purchased a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 9,531 shares of the industrial products company's stock, valued at approximately $257,000.
A number of other large investors have also added to or reduced their stakes in IIIN. Barclays PLC boosted its holdings in shares of Insteel Industries by 363.7% during the third 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 period. Principal Financial Group Inc. lifted its holdings in Insteel Industries by 3.0% in the 4th quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company's stock worth $2,555,000 after buying an additional 2,746 shares during the period. Teacher Retirement System of Texas bought a new stake in shares of Insteel Industries in the 4th quarter worth approximately $929,000. Smartleaf Asset Management LLC increased its stake in shares of Insteel Industries by 535.5% during 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 during the period. Finally, Nisa Investment Advisors LLC raised its holdings in shares of Insteel Industries by 3,568.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company's stock valued at $69,000 after acquiring an additional 2,498 shares in the last quarter. Institutional investors own 83.27% of the company's stock.
Insteel Industries Stock Up 0.2 %
Shares of IIIN traded up $0.07 during trading hours on Friday, reaching $35.54. 141,665 shares of the company traded hands, compared to its average volume of 143,518. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $35.86. The company has a market capitalization of $689.90 million, a price-to-earnings ratio of 35.90, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72. The company's fifty day moving average price is $28.85 and its two-hundred day moving average price is $28.65.
Insteel Industries Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given 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 is currently 10.34%.
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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