Comerica Bank Decreases Stock Holdings in Insteel Industries, Inc. (NASDAQ:IIIN)

Comerica Bank lowered its stake in shares of Insteel Industries, Inc. (NASDAQ:IIIN) by 2.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,252 shares of the industrial products company’s stock after selling 356 shares during the period. Comerica Bank’s holdings in Insteel Industries were worth $466,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in Insteel Industries by 3.0% during the fourth quarter. Principal Financial Group Inc. now owns 94,603 shares of the industrial products company’s stock worth $2,555,000 after buying an additional 2,746 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Insteel Industries during the fourth quarter worth about $929,000. Smartleaf Asset Management LLC boosted its holdings in Insteel Industries by 535.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company’s stock worth $53,000 after buying an additional 1,660 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in Insteel Industries by 3,568.6% during the fourth 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. Finally, JPMorgan Chase & Co. raised its position in Insteel Industries by 57.3% during the third quarter. JPMorgan Chase & Co. now owns 14,061 shares of the industrial products company’s stock worth $437,000 after acquiring an additional 5,121 shares during the last quarter. Hedge funds and other institutional investors own 83.27% of the company’s stock.

Insteel Industries Trading Down 1.1%

Shares of IIIN opened at $36.60 on Friday. The stock has a market cap of $710.48 million, a P/E ratio of 36.97, a PEG ratio of 1.81 and a beta of 0.72. The company has a 50-day moving average of $29.62 and a two-hundred day moving average of $28.89. Insteel Industries, Inc. has a 12-month low of $22.49 and a 12-month high of $37.61.

Insteel Industries 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.