How to insert a character in a string at a certain position?

int j = 123456;
String x = Integer.toString(j);
x = x.substring(0, 4) + "." + x.substring(4, x.length());

As mentioned in comments, a StringBuilder is probably a faster implementation than using a StringBuffer. As mentioned in the Java docs:

This class provides an API compatible with StringBuffer, but with no guarantee of synchronization. This class is designed for use as a drop-in replacement for StringBuffer in places where the string buffer was being used by a single thread (as is generally the case). Where possible, it is recommended that this class be used in preference to StringBuffer as it will be faster under most implementations.

Usage :

String str = Integer.toString(j);
str = new StringBuilder(str).insert(str.length()-2, ".").toString();

Or if you need synchronization use the StringBuffer with similar usage :

String str = Integer.toString(j);
str = new StringBuffer(str).insert(str.length()-2, ".").toString();

int yourInteger = 123450;
String s = String.format("%6.2f", yourInteger / 100.0);
System.out.println(s);