Thrivent Financial for Lutherans decreased its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN – Free Report) by 4.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,167 shares of the industrial products company’s stock after selling 705 shares during the period. Thrivent Financial for Lutherans owned 0.08% of Insteel Industries worth $501,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. American Century Companies Inc. raised its stake in shares of Insteel Industries by 14.6% in the second quarter. American Century Companies Inc. now owns 467,712 shares of the industrial products company’s stock worth $14,480,000 after acquiring an additional 59,591 shares during the last quarter. First Eagle Investment Management LLC raised its position in Insteel Industries by 26.8% in the 2nd quarter. First Eagle Investment Management LLC now owns 353,806 shares of the industrial products company’s stock worth $10,954,000 after purchasing an additional 74,791 shares during the last quarter. Oppenheimer & Co. Inc. lifted its holdings in Insteel Industries by 2.0% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 275,387 shares of the industrial products company’s stock worth $8,526,000 after buying an additional 5,313 shares in the last quarter. Robotti Robert boosted its position in Insteel Industries by 6.2% in the 1st quarter. Robotti Robert now owns 262,780 shares of the industrial products company’s stock valued at $10,043,000 after buying an additional 15,415 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in Insteel Industries by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 108,185 shares of the industrial products company’s stock valued at $4,135,000 after buying an additional 1,276 shares during the last quarter. Institutional investors and hedge funds own 83.27% of the company’s stock.
Insteel Industries Stock Down 1.3 %
IIIN stock opened at $29.51 on Wednesday. Insteel Industries, Inc. has a twelve month low of $26.86 and a twelve month high of $39.38. The company has a market cap of $574.71 million, a P/E ratio of 23.80, a PEG ratio of 2.65 and a beta of 1.10. The business has a fifty day moving average of $31.82 and a 200-day moving average of $32.46.
Insteel Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were issued a $0.03 dividend. The ex-dividend date was Friday, September 13th. This represents a $0.12 annualized dividend and a yield of 0.41%. Insteel Industries’s dividend payout ratio is currently 9.68%.
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.
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