Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by Strs Ohio

Strs Ohio reduced its stake in Insteel Industries, Inc. (NASDAQ:IIIN) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,700 shares of the industrial products company’s stock after selling 1,300 shares during the period. Strs Ohio owned 0.09% of Insteel Industries worth $677,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its position in shares of Insteel Industries by 80.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,254 shares of the industrial products company’s stock valued at $73,000 after buying an additional 1,006 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Insteel Industries by 60.9% during the third quarter. Public Employees Retirement System of Ohio now owns 3,700 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 1,400 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Insteel Industries during the third quarter worth about $162,000. Arizona State Retirement System purchased a new stake in shares of Insteel Industries in the 4th quarter valued at about $208,000. Finally, Advisor Partners II LLC purchased a new stake in shares of Insteel Industries in the 3rd quarter valued at about $223,000. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Stock Down 7.0 %

NASDAQ:IIIN opened at $31.73 on Friday. The company has a market capitalization of $617.15 million, a PE ratio of 27.59, a P/E/G ratio of 2.23 and a beta of 1.14. Insteel Industries, Inc. has a 52-week low of $26.86 and a 52-week high of $39.38. The stock’s 50 day moving average price is $35.58 and its 200 day moving average price is $34.56.

Insteel Industries Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Friday, March 15th were given a dividend of $0.03 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.38%. Insteel Industries’s dividend payout ratio (DPR) is presently 10.43%.

Insider Activity

In related news, COO Richard Wagner sold 1,715 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $36.14, for a total transaction of $61,980.10. Following the completion of the sale, the chief operating officer now owns 40,952 shares in the company, valued at approximately $1,480,005.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.60% of the company’s stock.

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.