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Insteel Industries, Inc. (NASDAQ:IIIN - Get Rating) announced a quarterly dividend on Thursday, September 1st, Wall Street Journal reports. Stockholders of record on Friday, September 16th will be given a dividend of 0.03 per share by the industrial products company on Friday, September 30th. This represents a $0.12 annualized dividend and a dividend yield of 0.43%. The ex-dividend date of this dividend is Thursday, September 15th.

Insteel Industries has decreased its dividend by an average of 7,500.0% per year over the last three years. Insteel Industries Price Performance

Shares of NASDAQ:IIIN traded down $0.80 during midday trading on Thursday, hitting $28.10. 130,515 shares of the company's stock were exchanged, compared to its average volume of 124,719. The stock has a 50 day moving average price of $32.90 and a 200-day moving average price of $37.16. The company has a market cap of $548.12 million, a PE ratio of 4.51 and a beta of 1.21. Insteel Industries has a 12 month low of $27.66 and a 12 month high of $47.70. Institutional Investors Weigh In On Insteel Industries

Institutional investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its stake in Insteel Industries by 0.8% in the second quarter. Legal & General Group Plc now owns 47,659 shares of the industrial products company's stock valued at $1,605,000 after acquiring an additional 362 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in Insteel Industries in the second quarter valued at about $244,000. Walleye Capital LLC purchased a new position in Insteel Industries in the second quarter valued at about $424,000. Goldman Sachs Group Inc. boosted its stake in Insteel Industries by 112.9% in the second quarter. Goldman Sachs Group Inc. now owns 61,405 shares of the industrial products company's stock valued at $2,068,000 after acquiring an additional 32,566 shares during the last quarter. Finally, Captrust Financial Advisors boosted its stake in Insteel Industries by 11,836.4% in the second quarter. Captrust Financial Advisors now owns 142,401 shares of the industrial products company's stock valued at $4,795,000 after acquiring an additional 141,208 shares during the last quarter. 77.66% of the stock is owned by institutional investors. Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of Insteel Industries from a "hold" rating to a "buy" rating in a research report on Thursday, August 18th.About Insteel Industries (Get Rating)

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.Featured StoriesGet a free copy of the StockNews.com research report on Insteel Industries (IIIN)How will the chip ban affect Nvidia's stock?Is Best Buy A Sneaky Buy for Q4?Does The Bed Bath and Beyond Stock Rally Still Have Legs?Can Alibaba And Baidu Finally Rally With Delisting Fears Gone? 3 Materials Stocks That May Earn a Place on Your Watchlist

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