Trexquant Investment LP Reduces Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Trexquant Investment LP decreased its position in shares of Insteel Industries, Inc. (NASDAQ:IIIN - Free Report) by 24.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,999 shares of the industrial products company's stock after selling 9,454 shares during the quarter. Trexquant Investment LP owned 0.15% of Insteel Industries worth $783,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Robotti Robert grew its position in Insteel Industries by 0.4% during the fourth quarter. Robotti Robert now owns 299,245 shares of the industrial products company's stock valued at $8,083,000 after buying an additional 1,110 shares during the period. JPMorgan Chase & Co. grew its position in shares of Insteel Industries by 131.4% during the 4th quarter. JPMorgan Chase & Co. now owns 32,541 shares of the industrial products company's stock valued at $879,000 after acquiring an additional 18,480 shares during the period. Vanguard Group Inc. increased its stake in shares of Insteel Industries by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 1,241,131 shares of the industrial products company's stock valued at $33,523,000 after purchasing an additional 41,908 shares in the last quarter. Bridge City Capital LLC grew its holdings in Insteel Industries by 0.8% in the fourth quarter. Bridge City Capital LLC now owns 126,077 shares of the industrial products company's stock valued at $3,405,000 after purchasing an additional 1,027 shares during the period. Finally, Oppenheimer & Close LLC purchased a new stake in shares of Insteel Industries in the fourth quarter valued at approximately $3,710,000. 83.27% of the stock is owned by hedge funds and other institutional investors.

Insteel Industries Stock Performance

Insteel Industries stock traded up $3.14 during trading on Thursday, reaching $29.86. The company had a trading volume of 112,947 shares, compared to its average volume of 137,157. The firm's 50-day simple moving average is $27.52 and its 200 day simple moving average is $28.17. The firm has a market capitalization of $580.11 million, a PE ratio of 30.20, a price-to-earnings-growth ratio of 1.81 and a beta of 0.94. Insteel Industries, Inc. has a 1-year low of $22.49 and a 1-year high of $35.52.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last released its quarterly earnings results on Thursday, January 16th. The industrial products company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.09 by ($0.03). The company had revenue of $129.70 million for the quarter, compared to analyst estimates of $117.45 million. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the company earned $0.06 EPS. Analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were issued a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.40%. Insteel Industries's payout ratio is currently 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.