Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report)'s share price hit a new 52-week high on Monday . The company traded as high as $37.47 and last traded at $37.04, with a volume of 4850 shares. The stock had previously closed at $35.74.
Insteel Industries Stock Performance
The firm has a fifty day moving average of $28.85 and a 200-day moving average of $28.66. The stock has a market capitalization of $708.64 million, a price-to-earnings ratio of 36.85, a P/E/G ratio of 1.81 and a beta of 0.72.
Insteel Industries Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.03 dividend. The ex-dividend date was Friday, March 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.33%. Insteel Industries's payout ratio is currently 10.34%.
Hedge Funds Weigh In On Insteel Industries
A number of institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC raised its holdings in Insteel Industries by 535.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,970 shares of the industrial products company's stock valued at $53,000 after acquiring an additional 1,660 shares in the last quarter. Nisa Investment Advisors LLC raised its stake 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 acquiring an additional 2,498 shares during the period. AlphaQuest LLC bought a new stake in Insteel Industries in the fourth quarter valued at $83,000. KLP Kapitalforvaltning AS bought a new position in Insteel Industries in the 4th quarter worth approximately $97,000. Finally, CWM LLC raised 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 in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.
Insteel Industries Company Profile
(
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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