Insteel Industries, Inc. (NASDAQ:IIIN) Shares Bought by Barclays PLC

Barclays PLC grew its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 363.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 32,391 shares of the industrial products company’s stock after purchasing an additional 25,405 shares during the quarter. Barclays PLC’s holdings in Insteel Industries were worth $1,007,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. State Street Corp increased 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 valued at $23,675,000 after buying an additional 35,859 shares during the last quarter. Pacer Advisors Inc. grew its position in shares of 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 acquiring an additional 22,543 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of Insteel Industries by 14.6% in the 2nd quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock valued at $14,480,000 after acquiring an additional 59,591 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Insteel Industries by 0.8% during the 3rd quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company’s stock valued at $13,523,000 after acquiring an additional 3,612 shares in the last quarter. Finally, Cerity Partners LLC lifted its stake in Insteel Industries by 132.7% during the third quarter. Cerity Partners LLC now owns 407,788 shares of the industrial products company’s stock worth $12,678,000 after purchasing an additional 232,514 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Performance

NASDAQ IIIN opened at $25.02 on Wednesday. The firm has a market capitalization of $486.16 million, a PE ratio of 25.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.14. Insteel Industries, Inc. has a one year low of $23.60 and a one year high of $38.40. The company has a 50-day simple moving average of $28.66 and a 200-day simple moving average of $30.21.

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

Insteel Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.12 dividend on an annualized basis and a yield of 0.48%. Insteel Industries’s dividend payout ratio is currently 12.12%.

Analyst Ratings Changes

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

Insteel Industries 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.