Guggenheim Capital LLC reduced its stake in Insteel Industries, Inc. (NASDAQ:IIIN – Get Rating) by 26.1% in the third quarter, according to a recent disclosure to the Securities and Exchange Commission (SEC). The company owned his 13,394 shares of industrial products company stock after selling his 4,722 shares during this period. Guggenheim Capital LLC owned approximately 0.07% of Insteel Industries worth $355,000 as of the latest SEC filing.
A number of other large investors have also recently bought and sold shares in IIIN. HighTower Advisors LLC bought a new stake in Insteel Industries for $280,000 in the first quarter. Citigroup Inc. expanded his position in Insteel Industries by 16.4% in the first quarter. Citigroup Inc. holds 17,217 shares in an industrial products company worth $637,000 after he acquired an additional 2,432 shares during this period. MetLife Investment Management LLC increased its position in Insteel Industries by 51.0% in the first quarter. MetLife Investment Management LLC now owns 10,688 shares of the industrial products company valued at $395,000 after acquiring an additional 3,609 shares during this period. Rhumbline Advisers expanded its position in Insteel Industries by 1.5% in the first quarter. Rhumbline Advisers now owns 53,384 shares of the industrial products company valued at $1,975,000 after acquiring an additional 779 shares during this period. Finally, Pennsylvania Public Schools employee Retrmt SYS increased his Insteel Industries position by 14.1% in the first quarter. Pennsylvania Public Schools employee Retrmt SYS now owns 16,737 shares in the industrial products company worth $619,000 after he acquired an additional 2,068 shares during this period. Currently 77.23% of the shares are owned by institutional investors.
Insteel Industries stock performance
Insteel Industries shares opened Monday at $27.50. The company has a market capitalization of $534.9 million, a P/E of 4.77 and a beta of 1.12. His 50-day moving average for this business is $29.61 and his 200-day moving average is $28.32. Insteel Industries, Inc. has a 52-week low of $24.00 and a 52-week high of $47.70.
Insteel Industries Dividend Notice
The company recently announced a quarterly dividend payable on Friday, March 31st. Dividends of $0.03 will be paid to shareholders of record on Friday, March 17. This represents his $0.12 dividend and his 0.44% yield on an annual basis. The ex-dividend date is Thursday, March 16. Insteel Industry’s dividend payout ratio is currently 2.08%.
In other news from Insteel Industries, VP James F. Petelle sold 3,285 shares in the company in a transaction on Tuesday, February 7th. The shares sold at an average price of $30.51, giving him a total of $100,225.35. After the transaction, Vice President now owns 15,292 shares of the Company stock valued at $466,558.92. The transaction is disclosed in legal filings with the SEC and is available on the SEC’s website. The insider owns his 5.40% of the company’s shares.
Insteel Industries Company Profile
Insteel Industries, Inc is engaged in the manufacture and sale of steel wire reinforcement products for concrete construction applications. Its offer PC strand, welding wire reinforcement. and engineering services. The company was founded by Howard Osler Woltz, Jr. in 1953 and is headquartered in Mount He’s Airlie, North Carolina.
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