Hsbc Holdings PLC Acquires New Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Hsbc Holdings PLC bought a new position in shares of Insteel Industries, Inc. (NASDAQ:IIIN) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 166,806 shares of the industrial products company’s stock, valued at approximately $4,527,000. Hsbc Holdings PLC owned about 0.86% of Insteel Industries at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in IIIN. MetLife Investment Management LLC raised its holdings in Insteel Industries by 8.5% in the 4th quarter. MetLife Investment Management LLC now owns 11,482 shares of the industrial products company’s stock valued at $310,000 after acquiring an additional 902 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in Insteel Industries by 19.8% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 20,431 shares of the industrial products company’s stock valued at $551,000 after purchasing an additional 3,375 shares during the last quarter. Marshall Wace LLP purchased a new position in Insteel Industries during the fourth quarter worth about $257,000. Barclays PLC boosted its stake in Insteel Industries by 4.2% in the 4th quarter. Barclays PLC now owns 33,767 shares of the industrial products company’s stock worth $912,000 after buying an additional 1,376 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Insteel Industries by 5.1% in the 4th quarter. Legal & General Group Plc now owns 53,655 shares of the industrial products company’s stock valued at $1,449,000 after buying an additional 2,586 shares during the period. Institutional investors and hedge funds own 83.27% of the company’s stock.

Insteel Industries Price Performance

NASDAQ IIIN opened at $33.10 on Wednesday. The company has a market cap of $642.54 million, a P/E ratio of 33.43, a P/E/G ratio of 1.81 and a beta of 0.94. Insteel Industries, Inc. has a 12 month low of $22.49 and a 12 month high of $35.52. The company has a 50-day moving average of $27.78 and a 200-day moving average of $28.29.

Insteel Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 28th. Investors of record on Friday, March 14th were given a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.36%. The ex-dividend date of this dividend was Friday, March 14th. Insteel Industries’s dividend payout ratio (DPR) is 10.34%.

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.