1,100 Shares in Insteel Industries, Inc. (NASDAQ:IIIN) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) in the third quarter, HoldingsChannel.com reports. The firm acquired 1,100 shares of the industrial products company’s stock, valued at approximately $34,000.

A number of other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets increased its position in shares of 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 valued at $183,000 after purchasing an additional 434 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Insteel Industries by 8.3% in the second quarter. The Manufacturers Life Insurance Company now owns 7,631 shares of the industrial products company’s stock worth $236,000 after acquiring an additional 585 shares during the period. Ellsworth Advisors LLC boosted its stake in shares of Insteel Industries by 7.2% during the 3rd quarter. Ellsworth Advisors LLC now owns 16,527 shares of the industrial products company’s stock worth $514,000 after acquiring an additional 1,109 shares during the last quarter. Public Sector Pension Investment Board grew its position in shares of Insteel Industries by 6.2% during the 2nd quarter. Public Sector Pension Investment Board now owns 42,861 shares of the industrial products company’s stock valued at $1,327,000 after acquiring an additional 2,489 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Insteel Industries by 100.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,615 shares of the industrial products company’s stock worth $175,000 after purchasing an additional 2,812 shares in the last quarter. Institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Down 0.8 %

Insteel Industries stock opened at $29.65 on Friday. 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 $576.60 million, a price-to-earnings ratio of 29.94, a P/E/G ratio of 2.21 and a beta of 1.11. The firm has a 50 day moving average of $29.21 and a 200 day moving average of $30.83.

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, meeting the consensus estimate of $0.24. The firm had revenue of $134.30 million for 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, analysts predict that Insteel Industries, Inc. will post 1.11 EPS for the current year.

Insteel Industries Announces Dividend

The firm also recently announced 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. This represents a $0.12 annualized dividend and a dividend yield of 0.40%. The ex-dividend date was Friday, November 29th. Insteel Industries’s dividend payout ratio is currently 12.12%.

Wall Street Analyst Weigh In

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

Insteel Industries Company 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.