Barclays PLC Acquires 25,405 Shares of Insteel Industries, Inc. (NASDAQ:IIIN)

Barclays PLC increased its stake in Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 363.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,391 shares of the industrial products company's stock after buying an additional 25,405 shares during the period. Barclays PLC owned 0.17% of Insteel Industries worth $1,007,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of IIIN. State Street Corp raised its position in shares of Insteel Industries by 4.9% in the 3rd quarter. State Street Corp now owns 761,492 shares of the industrial products company's stock worth $23,675,000 after acquiring an additional 35,859 shares in the last quarter. First Eagle Investment Management LLC raised its holdings in Insteel Industries by 26.8% in the second 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 in the last quarter. Geode Capital Management LLC raised its holdings in Insteel Industries by 0.8% in the third quarter. Geode Capital Management LLC now owns 434,871 shares of the industrial products company's stock worth $13,523,000 after purchasing an additional 3,612 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Insteel Industries during the 3rd quarter valued at $690,000. Finally, Jane Street Group LLC boosted its holdings in shares of Insteel Industries by 228.1% during the 3rd quarter. Jane Street Group LLC now owns 64,892 shares of the industrial products company's stock valued at $2,017,000 after buying an additional 45,115 shares in the last quarter. 83.27% of the stock is currently owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

Shares of IIIN traded down $0.20 during mid-day trading on Wednesday, reaching $24.82. The company had a trading volume of 92,840 shares, compared to its average volume of 111,414. The company has a market capitalization of $482.28 million, a price-to-earnings ratio of 25.07, a price-to-earnings-growth ratio of 2.22 and a beta of 1.14. The firm has a 50-day moving average price of $28.60 and a 200 day moving average price of $30.17. Insteel Industries, Inc. has a 52 week low of $23.60 and a 52 week high of $38.40.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its earnings results on Thursday, October 17th. The industrial products company reported $0.24 EPS for the quarter, hitting analysts' consensus estimates of $0.24. The firm had revenue of $134.30 million for the quarter, compared to analysts' expectations of $140.40 million. Insteel Industries had a return on equity of 5.63% and a net margin of 3.65%. As a group, research analysts forecast that Insteel Industries, Inc. will post 1.11 earnings per share for the current fiscal year.

Insteel Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Friday, November 29th were paid a dividend of $0.03 per share. The ex-dividend date 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%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Insteel Industries from a "buy" rating to a "hold" rating in a research 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.