Insteel Industries (NASDAQ:IIIN) Reaches New 1-Year High – What’s Next?

Insteel Industries, Inc. (NASDAQ:IIIN) hit a new 52-week high on Monday . The stock traded as high as $37.47 and last traded at $37.04, with a volume of 4850 shares. The stock had previously closed at $35.74.

Insteel Industries Trading Up 2.7%

The company has a fifty day simple moving average of $29.26 and a two-hundred day simple moving average of $28.78. The company has a market cap of $724.26 million, a PE ratio of 37.69, a P/E/G ratio of 1.81 and a beta of 0.72.

Institutional Trading of Insteel Industries

Large investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its position in shares of Insteel Industries by 535.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock valued at $53,000 after purchasing an additional 1,660 shares during the period. Nisa Investment Advisors LLC raised its stake 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 worth $69,000 after buying an additional 2,498 shares in the last quarter. AlphaQuest LLC purchased a new position in shares of Insteel Industries during the 4th quarter worth approximately $83,000. KLP Kapitalforvaltning AS purchased a new position in shares of Insteel Industries during the 4th quarter worth approximately $97,000. Finally, CWM LLC raised its stake in shares of Insteel Industries by 150.9% during the 1st quarter. CWM LLC now owns 4,744 shares of the industrial products company’s stock worth $125,000 after buying an additional 2,853 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

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.