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

Barclays PLC grew its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 363.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 32,391 shares of the industrial products company’s stock after acquiring an additional 25,405 shares during the quarter. Barclays PLC owned about 0.17% of Insteel Industries worth $1,007,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IIIN. BNP Paribas Financial Markets increased its position in Insteel Industries by 8.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 5,885 shares of the industrial products company’s stock worth $183,000 after purchasing an additional 434 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Insteel Industries by 8.3% during the second quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock worth $236,000 after buying an additional 585 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Insteel Industries in the third quarter worth $34,000. Ellsworth Advisors LLC raised its stake in shares of Insteel Industries by 7.2% in the 3rd quarter. Ellsworth Advisors LLC now owns 16,527 shares of the industrial products company’s stock valued at $514,000 after acquiring an additional 1,109 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in shares of Insteel Industries during the 3rd quarter valued at $37,000. 83.27% of the stock is currently owned by institutional investors and hedge funds.

Insteel Industries Stock Performance

IIIN stock opened at $25.02 on Wednesday. The firm has a market cap of $486.16 million, a P/E ratio of 25.27, a price-to-earnings-growth ratio of 2.22 and a beta of 1.14. Insteel Industries, Inc. has a 1 year low of $23.60 and a 1 year high of $38.40. The stock 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 quarterly earnings data on Thursday, October 17th. The industrial products company reported $0.24 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 net margin of 3.65% and a return on equity of 5.63%. On average, equities research analysts predict that Insteel Industries, Inc. will post 1.11 EPS for the current year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Friday, November 29th were paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.48%. The ex-dividend date of this dividend 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.