MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 5.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 684,467 shares of the industrial products company's stock after purchasing an additional 36,978 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 3.52% of Insteel Industries worth $18,487,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Captrust Financial Advisors lifted its position in shares of Insteel Industries by 0.3% during the 4th quarter. Captrust Financial Advisors now owns 136,998 shares of the industrial products company's stock worth $3,700,000 after buying an additional 390 shares during the period. Exchange Traded Concepts LLC increased 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 purchasing an additional 690 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in Insteel Industries by 8.5% during the 4th 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. Bridge City Capital LLC boosted its position in Insteel Industries by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 126,077 shares of the industrial products company's stock valued at $3,405,000 after buying an additional 1,027 shares in the last quarter. Finally, Robotti Robert grew its stake in Insteel Industries by 0.4% during the fourth quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock worth $8,083,000 after buying an additional 1,110 shares during the last quarter. Institutional investors own 83.27% of the company's stock.
Insteel Industries Stock Performance
Shares of NASDAQ IIIN traded up $0.55 during mid-day trading on Friday, hitting $37.36. 115,036 shares of the stock were exchanged, compared to its average volume of 145,352. Insteel Industries, Inc. has a twelve month low of $22.49 and a twelve month high of $37.61. The stock's fifty day simple moving average is $29.83 and its two-hundred day simple moving average is $28.97. The company has a market cap of $725.31 million, a P/E ratio of 37.74, a PEG ratio of 1.81 and a beta of 0.72.
About Insteel Industries
(
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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