Insider Selling: Insteel Industries, Inc. (IIIN) VP Sells 20,465 Shares of Stock

Insteel Industries, Inc. (NASDAQ:IIIN) VP Richard Wagner sold 20,465 shares of the firm’s stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $31.99, for a total transaction of $654,675.35. Following the transaction, the vice president now directly owns 48,464 shares of the company’s stock, valued at $1,550,363.36. The sale was disclosed in a document filed with the SEC, which is available through this link.

Richard Wagner also recently made the following trade(s):

  • On Wednesday, May 24th, Richard Wagner sold 10,732 shares of Insteel Industries stock. The stock was sold at an average price of $31.62, for a total transaction of $339,345.84.
  • On Wednesday, March 1st, Richard Wagner sold 12,466 shares of Insteel Industries stock. The shares were sold at an average price of $38.33, for a total transaction of $477,821.78.

Shares of Insteel Industries, Inc. (NASDAQ IIIN) opened at 31.84 on Friday. The company’s 50-day moving average is $32.55 and its 200 day moving average is $35.30. Insteel Industries, Inc. has a 1-year low of $22.50 and a 1-year high of $42.81. The stock has a market cap of $605.76 million, a P/E ratio of 17.34 and a beta of 2.24.

Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings data on Thursday, April 20th. The industrial products company reported $0.39 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by $0.12. Insteel Industries had a return on equity of 16.51% and a net margin of 8.52%. The company had revenue of $101.16 million for the quarter, compared to the consensus estimate of $102.46 million. During the same period last year, the firm earned $0.38 earnings per share. The company’s revenue for the quarter was down 5.8% compared to the same quarter last year. Equities research analysts anticipate that Insteel Industries, Inc. will post $1.76 EPS for the current year.

Insider Buying and Selling by Quarter for Insteel Industries (NASDAQ:IIIN)

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Friday, June 16th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.12 dividend on an annualized basis and a yield of 0.38%. Insteel Industries’s dividend payout ratio (DPR) is 6.52%.

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A number of equities analysts have weighed in on IIIN shares. Sidoti started coverage on shares of Insteel Industries in a report on Wednesday, March 22nd. They issued a “buy” rating on the stock. Longbow Research started coverage on shares of Insteel Industries in a research note on Friday, March 10th. They issued a “buy” rating on the stock.

About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

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