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Tower Research Capital LLC TRC cut its stake in Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) by 20.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,631 shares of the industrial products company’s stock after selling 1,985 shares during the period. Tower Research Capital LLC TRC’s holdings in Insteel Industries were worth $206,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also recently added to or reduced their stakes in the company. Barclays PLC grew its stake in shares of Insteel Industries by 363.7% during the 3rd quarter. Barclays PLC now owns 32,391 shares of the industrial products company’s stock worth $1,007,000 after acquiring an additional 25,405 shares in the last quarter. JPMorgan Chase & Co. grew its position in Insteel Industries by 57.3% in the third quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 5,121 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Insteel Industries by 3,568.6% in the fourth quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after purchasing an additional 2,498 shares in the last quarter. Exchange Traded Concepts LLC increased 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 lifted its position in Insteel Industries by 16.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,765 shares of the industrial products company’s stock worth $480,000 after buying an additional 2,558 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.
Insteel Industries Price Performance
Shares of NASDAQ IIIN opened at $35.07 on Tuesday. The business has a 50-day moving average of $28.23 and a 200-day moving average of $28.45. The stock has a market capitalization of $680.78 million, a price-to-earnings ratio of 35.42, 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 $35.57.
Insteel Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were paid a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. The ex-dividend date was Friday, March 14th. Insteel Industries’s dividend payout ratio is currently 10.34%.
About Insteel Industries
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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