Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) reached a new 52-week high on Friday . The stock traded as high as $37.74 and last traded at $37.66, with a volume of 26153 shares. The stock had previously closed at $37.03.
Insteel Industries Trading Up 1.9%
The stock has a fifty day simple moving average of $35.25 and a 200-day simple moving average of $30.24. The stock has a market cap of $732.18 million, a price-to-earnings ratio of 38.10, a price-to-earnings-growth ratio of 1.81 and a beta of 0.72.
Insteel Industries Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Stockholders of record on Friday, June 13th were given a $0.03 dividend. The ex-dividend date was Friday, June 13th. This represents a $0.12 annualized dividend and a dividend yield of 0.32%. Insteel Industries's dividend payout ratio is 10.34%.
Hedge Funds Weigh In On Insteel Industries
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its holdings in 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. AlphaQuest LLC bought a new stake in shares of Insteel Industries in the fourth quarter valued at about $83,000. KLP Kapitalforvaltning AS acquired a new stake in Insteel Industries during the fourth quarter worth about $97,000. CWM LLC increased its stake in Insteel Industries by 150.9% during the first quarter. CWM LLC now owns 4,744 shares of the industrial products company's stock valued at $125,000 after acquiring an additional 2,853 shares during the period. Finally, State of Wyoming increased its stake in Insteel Industries by 76.4% during the fourth quarter. State of Wyoming now owns 5,554 shares of the industrial products company's stock valued at $150,000 after acquiring an additional 2,406 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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