Invenomic Capital Management LP Takes Position in Insteel Industries, Inc. (NASDAQ:IIIN)

Invenomic Capital Management LP purchased a new stake in 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 firm purchased 215,159 shares of the industrial products company’s stock, valued at approximately $5,811,000. Invenomic Capital Management LP owned approximately 1.11% of Insteel Industries as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in shares of Insteel Industries by 363.7% during the third quarter. Barclays PLC now owns 32,391 shares of the industrial products company’s stock valued at $1,007,000 after acquiring an additional 25,405 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Insteel Industries by 57.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company’s stock valued at $437,000 after purchasing an additional 5,121 shares in the last quarter. Nisa Investment Advisors LLC raised its holdings in shares of Insteel Industries by 3,568.6% during the 4th quarter. Nisa Investment Advisors LLC now owns 2,568 shares of the industrial products company’s stock valued at $69,000 after buying an additional 2,498 shares during the period. Exchange Traded Concepts LLC raised its holdings in shares of Insteel Industries by 7.3% during the 4th quarter. Exchange Traded Concepts LLC now owns 10,090 shares of the industrial products company’s stock valued at $273,000 after buying an additional 690 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in shares of Insteel Industries by 16.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 17,765 shares of the industrial products company’s stock valued at $480,000 after buying an additional 2,558 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Stock Up 0.2%

IIIN stock opened at $35.54 on Monday. Insteel Industries, Inc. has a 52-week low of $22.49 and a 52-week high of $35.86. The company has a market capitalization of $689.90 million, a PE ratio of 35.90, a P/E/G ratio of 1.81 and a beta of 0.72. The stock’s 50 day moving average is $28.85 and its two-hundred day moving average is $28.66.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were issued a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. Insteel Industries’s dividend payout ratio (DPR) is 10.34%.

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.