Jane Street Group LLC Acquires 45,115 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Jane Street Group LLC boosted its holdings in Insteel Industries, Inc. (NASDAQ:IIIN) by 228.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 64,892 shares of the industrial products company’s stock after purchasing an additional 45,115 shares during the period. Jane Street Group LLC’s holdings in Insteel Industries were worth $2,017,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in IIIN. State Street Corp grew its holdings in Insteel Industries by 4.9% in the third quarter. State Street Corp now owns 761,492 shares of the industrial products company’s stock worth $23,675,000 after purchasing an additional 35,859 shares during the period. Pacer Advisors Inc. increased its stake in Insteel Industries by 3.5% in the 3rd quarter. Pacer Advisors Inc. now owns 662,775 shares of the industrial products company’s stock worth $20,606,000 after buying an additional 22,543 shares in the last quarter. American Century Companies Inc. raised its position in shares of Insteel Industries by 14.6% during the second quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock valued at $14,480,000 after buying an additional 59,591 shares during the last quarter. Cerity Partners LLC boosted its position in shares of Insteel Industries by 132.7% during the 3rd quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock valued at $12,678,000 after acquiring an additional 232,514 shares during the last quarter. Finally, First Eagle Investment Management LLC increased its stake in Insteel Industries by 26.8% during the second quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock worth $10,954,000 after acquiring an additional 74,791 shares during the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Price Performance

Shares of NASDAQ IIIN opened at $27.96 on Wednesday. The stock has a market capitalization of $543.88 million, a price-to-earnings ratio of 28.24, a PEG ratio of 2.21 and a beta of 1.11. Insteel Industries, Inc. has a 12 month low of $26.74 and a 12 month high of $39.38. The firm’s 50 day simple moving average is $29.10 and its 200-day simple moving average is $30.68.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 EPS for the quarter, hitting analysts’ consensus estimates of $0.24. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. The firm had revenue of $134.30 million for the quarter, compared to the consensus estimate of $140.40 million. Analysts anticipate that Insteel Industries, Inc. will post 1.11 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.43%. The ex-dividend date was Friday, November 29th. Insteel Industries’s dividend payout ratio (DPR) is 12.12%.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, October 26th.

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.