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

Jane Street Group LLC boosted its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 228.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 64,892 shares of the industrial products company’s stock after buying an additional 45,115 shares during the period. Jane Street Group LLC owned approximately 0.33% of Insteel Industries worth $2,017,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Isthmus Partners LLC increased its position in shares of Insteel Industries by 6.8% in the second quarter. Isthmus Partners LLC now owns 104,302 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 6,665 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Insteel Industries in the 3rd quarter valued at $34,000. Point72 DIFC Ltd acquired a new stake in shares of Insteel Industries during the third quarter valued at about $37,000. nVerses Capital LLC acquired a new stake in Insteel Industries in the second quarter valued at $121,000. Finally, Quantbot Technologies LP acquired a new stake in Insteel Industries during the 3rd quarter valued at approximately $121,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insteel Industries Trading Up 0.6 %

Shares of IIIN stock opened at $27.96 on Wednesday. The firm has a fifty day simple moving average of $29.10 and a two-hundred day simple moving average of $30.68. Insteel Industries, Inc. has a 12 month low of $26.74 and a 12 month high of $39.38. The firm has a market capitalization of $543.88 million, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.21 and a beta of 1.11.

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

Insteel Industries Announces Dividend

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

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.