Scarborough Advisors LLC bought a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,152 shares of the industrial products company’s stock, valued at approximately $44,000.
A number of other large investors have also modified their holdings of IIIN. Swiss National Bank boosted its stake in shares of Insteel Industries by 1.9% during the 3rd quarter. Swiss National Bank now owns 42,800 shares of the industrial products company’s stock worth $1,389,000 after acquiring an additional 800 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Insteel Industries by 4.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 158,540 shares of the industrial products company’s stock worth $5,146,000 after acquiring an additional 6,885 shares in the last quarter. Rhumbline Advisers boosted its stake in shares of Insteel Industries by 36.2% during the 3rd quarter. Rhumbline Advisers now owns 83,844 shares of the industrial products company’s stock worth $2,722,000 after acquiring an additional 22,298 shares in the last quarter. Aigen Investment Management LP boosted its stake in shares of Insteel Industries by 18.2% during the 3rd quarter. Aigen Investment Management LP now owns 9,219 shares of the industrial products company’s stock worth $299,000 after acquiring an additional 1,419 shares in the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of Insteel Industries by 1.9% during the 3rd quarter. Brandywine Global Investment Management LLC now owns 93,000 shares of the industrial products company’s stock worth $3,019,000 after acquiring an additional 1,700 shares in the last quarter. 83.27% of the stock is owned by hedge funds and other institutional investors.
Insteel Industries Price Performance
Shares of NASDAQ:IIIN opened at $31.91 on Wednesday. The business’s 50 day simple moving average is $32.51 and its 200-day simple moving average is $34.80. The firm has a market capitalization of $621.61 million, a price-to-earnings ratio of 25.73, a price-to-earnings-growth ratio of 1.66 and a beta of 1.15. Insteel Industries, Inc. has a 12 month low of $26.86 and a 12 month high of $39.38.
Insteel Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be given a dividend of $0.03 per share. The ex-dividend date is Friday, June 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. Insteel Industries’s dividend payout ratio is currently 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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