RDA Financial Network raised its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) by 15.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 10,074 shares of the industrial products company’s stock after buying an additional 1,364 shares during the period. RDA Financial Network’s holdings in Insteel Industries were worth $385,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Scarborough Advisors LLC purchased a new position in Insteel Industries in the fourth quarter valued at $44,000. Public Employees Retirement System of Ohio boosted its holdings in Insteel Industries by 60.9% in the third quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 1,400 shares during the period. Arizona State Retirement System purchased a new position in Insteel Industries in the fourth quarter valued at $208,000. Raymond James Financial Services Advisors Inc. purchased a new position in Insteel Industries in the fourth quarter valued at $223,000. Finally, Quadrature Capital Ltd boosted its holdings in Insteel Industries by 5.7% in the third quarter. Quadrature Capital Ltd now owns 8,408 shares of the industrial products company’s stock valued at $273,000 after purchasing an additional 455 shares during the period. 83.27% of the stock is currently owned by hedge funds and other institutional investors.
Insteel Industries Trading Down 3.6 %
NASDAQ:IIIN opened at $30.76 on Monday. Insteel Industries, Inc. has a 12-month low of $26.86 and a 12-month high of $39.38. The firm has a market cap of $599.20 million, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. The stock has a fifty day moving average price of $32.33 and a 200 day moving average price of $34.70.
Insteel Industries Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.03 dividend. This represents a $0.12 dividend on an annualized basis and a yield of 0.39%. The ex-dividend date of this dividend is Friday, June 14th. Insteel Industries’s dividend payout ratio is presently 9.68%.
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.
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