Shell Asset Management Co. decreased its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN – Get Rating) by 12.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,464 shares of the industrial products company’s stock after selling 615 shares during the quarter. Shell Asset Management Co.’s holdings in Insteel Industries were worth $118,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in shares of Insteel Industries during the 2nd quarter worth about $38,000. Gladius Capital Management LP bought a new position in shares of Insteel Industries during the 2nd quarter worth about $40,000. UBS Group AG increased its holdings in shares of Insteel Industries by 182.5% during the 3rd quarter. UBS Group AG now owns 2,822 shares of the industrial products company’s stock worth $75,000 after purchasing an additional 1,823 shares during the period. Tower Research Capital LLC TRC increased its holdings in shares of Insteel Industries by 502.8% during the 3rd quarter. Tower Research Capital LLC TRC now owns 3,056 shares of the industrial products company’s stock worth $81,000 after purchasing an additional 2,549 shares during the period. Finally, Mutual of America Capital Management LLC increased its stake in Insteel Industries by 16.7% in the second quarter. Mutual of America Capital Management LLC now owns 3,265 shares of the industrial products company’s stock valued at $110,000 after acquiring an additional 468 shares during the period. Institutional investors own 77.23% of the company’s stock.
Insider Activity at Insteel Industries
In related news, VP James F. Petelle sold 3,285 shares of the company’s stock in a transaction dated Tuesday, February 7th. The shares were sold at an average price of $30.51, for a total value of $100,225.35. Following the sale, the vice president now owns 15,292 shares of the company’s stock, valued at $466,558.92. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.
Insteel Industries Stock Up 2.0 %
Insteel Industries Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 31st. Investors of record on Friday, March 17th will be paid a $0.03 dividend. The ex-dividend date of this dividend is Thursday, March 16th. This represents a $0.12 dividend on an annualized basis and a yield of 0.40%. Insteel Industries’s payout ratio is currently 2.08%.
About Insteel Industries
Insteel Industries, Inc engages in manufacturing and marketing steel wire reinforcing products for concrete construction applications. Its offers PC strand, welded wire reinforcement. and engineering services. The company was founded by Howard Osler Woltz, Jr. in 1953 and is headquartered in Mount Airy, NC.
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