Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report)'s share price reached a new 52-week high during trading on Tuesday . The stock traded as high as $35.57 and last traded at $35.07, with a volume of 176745 shares changing hands. The stock had previously closed at $35.02.
Insteel Industries Stock Performance
The stock has a market capitalization of $689.90 million, a P/E ratio of 35.90, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72. The business has a 50 day simple moving average of $28.85 and a 200-day simple moving average of $28.65.
Insteel Industries Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Stockholders of record on Friday, March 14th were given a dividend of $0.03 per share. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.34%. Insteel Industries's dividend payout ratio (DPR) is presently 10.34%.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC boosted its position 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 valued at $53,000 after purchasing an additional 1,660 shares during the last quarter. Nisa Investment Advisors LLC lifted its holdings 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 valued at $69,000 after buying an additional 2,498 shares during the last quarter. AlphaQuest LLC bought a new stake in shares of Insteel Industries in the 4th quarter valued at approximately $83,000. KLP Kapitalforvaltning AS bought a new stake in shares of Insteel Industries in the 4th quarter valued at approximately $97,000. Finally, CWM LLC increased its holdings in Insteel Industries by 150.9% in the first 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 during the last quarter. Hedge funds and other 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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