Shares of Insteel Industries Inc (NASDAQ:IIIN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $20.30 and traded as high as $18.94. Insteel Industries shares last traded at $18.44, with a volume of 13,472 shares traded.
Separately, BidaskClub cut shares of Insteel Industries from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th.
The company has a market cap of $359.14 million, a P/E ratio of 22.21 and a beta of 1.80. The stock’s 50-day moving average price is $19.66 and its 200-day moving average price is $20.30.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Investors of record on Friday, September 13th will be issued a $0.03 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.65%.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Value Holdings Management CO. LLC increased its stake in shares of Insteel Industries by 250.0% during the 1st quarter. Value Holdings Management CO. LLC now owns 21,000 shares of the industrial products company’s stock worth $439,000 after purchasing an additional 15,000 shares during the last quarter. Comerica Bank increased its stake in shares of Insteel Industries by 3.3% during the 1st quarter. Comerica Bank now owns 18,053 shares of the industrial products company’s stock worth $405,000 after purchasing an additional 569 shares during the last quarter. Rhumbline Advisers increased its stake in shares of Insteel Industries by 17.0% during the 1st quarter. Rhumbline Advisers now owns 73,892 shares of the industrial products company’s stock worth $1,546,000 after purchasing an additional 10,762 shares during the last quarter. White Pine Capital LLC purchased a new stake in shares of Insteel Industries during the 1st quarter worth approximately $372,000. Finally, Assenagon Asset Management S.A. purchased a new stake in shares of Insteel Industries during the 1st quarter worth approximately $2,619,000. Institutional investors own 78.91% of the company’s stock.
About Insteel Industries (NASDAQ:IIIN)
Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers pre-stressed 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.
Further Reading: What is Call Option Volume?
Receive News & Ratings for Insteel Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insteel Industries and related companies with MarketBeat.com's FREE daily email newsletter.