Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) reached a new 52-week high during trading on Thursday . The stock traded as high as $39.08 and last traded at $38.98, with a volume of 146464 shares changing hands. The stock had previously closed at $37.97.
Insteel Industries Stock Performance
The company has a market cap of $761.53 million, a price-to-earnings ratio of 39.63, a P/E/G ratio of 1.81 and a beta of 0.72. The firm has a fifty day moving average price of $35.88 and a 200 day moving average price of $30.55.
Insteel Industries Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a dividend yield of 0.31%. The ex-dividend date was Friday, June 13th. Insteel Industries's payout ratio is presently 10.34%.
Institutional Investors Weigh In On Insteel Industries
Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its stake in Insteel Industries by 53.9% in the 4th quarter. Millennium Management LLC now owns 71,938 shares of the industrial products company's stock valued at $1,943,000 after acquiring an additional 25,204 shares during the period. GAMMA Investing LLC raised its stake in Insteel Industries by 23,382.1% in the 1st quarter. GAMMA Investing LLC now owns 13,150 shares of the industrial products company's stock valued at $3,460,000 after acquiring an additional 13,094 shares during the period. Two Sigma Advisers LP raised its stake in Insteel Industries by 209.8% in the 4th quarter. Two Sigma Advisers LP now owns 37,800 shares of the industrial products company's stock valued at $1,021,000 after acquiring an additional 25,600 shares during the period. Teacher Retirement System of Texas bought a new stake in Insteel Industries in the 4th quarter valued at $929,000. Finally, Squarepoint Ops LLC raised its stake in Insteel Industries by 17.0% in the 4th quarter. Squarepoint Ops LLC now owns 12,473 shares of the industrial products company's stock valued at $337,000 after acquiring an additional 1,813 shares during the period. Institutional investors own 83.27% of the company's stock.
About Insteel Industries
(
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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.
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