Shares of Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) hit a new 52-week high during trading on Thursday . The company traded as high as $39.36 and last traded at $39.44, with a volume of 8170 shares traded. The stock had previously closed at $38.89.
Insteel Industries Stock Performance
The stock has a 50-day simple moving average of $36.39 and a 200 day simple moving average of $30.93. The company has a market cap of $766.35 million, a P/E ratio of 39.88, a P/E/G ratio of 1.81 and a beta of 0.72.
Insteel Industries Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, June 27th. Shareholders of record on Friday, June 13th were given a $0.03 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.12 dividend on an annualized basis and a dividend yield of 0.30%. Insteel Industries's dividend payout ratio is currently 10.34%.
Hedge Funds Weigh In On Insteel Industries
Hedge funds and other institutional investors have recently modified their holdings of the stock. AlphaQuest LLC bought a new position in shares of Insteel Industries during the 4th quarter worth approximately $83,000. KLP Kapitalforvaltning AS bought a new position in shares of Insteel Industries during the 4th quarter worth approximately $97,000. CWM LLC lifted its position in shares of Insteel Industries by 150.9% during the 1st 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 period. State of Wyoming lifted its position in shares of Insteel Industries by 76.4% during the 4th quarter. State of Wyoming now owns 5,554 shares of the industrial products company's stock worth $150,000 after buying an additional 2,406 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Insteel Industries during the 1st quarter worth approximately $200,000. Institutional investors own 83.27% of the company's stock.
About Insteel Industries
(
Get Free Report)
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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