Insteel Industries, Inc. (NASDAQ:IIIN – Get Rating) VP Scot R. Jafroodi sold 500 shares of the stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $43.54, for a total value of $21,770.00. Following the sale, the vice president now directly owns 37,796 shares of the company’s stock, valued at $1,645,637.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
NASDAQ:IIIN opened at $43.67 on Wednesday. The business has a fifty day simple moving average of $40.61 and a two-hundred day simple moving average of $39.83. Insteel Industries, Inc. has a 1 year low of $30.12 and a 1 year high of $47.70. The company has a market capitalization of $848.94 million, a P/E ratio of 8.10 and a beta of 1.25.
Insteel Industries (NASDAQ:IIIN – Get Rating) last released its earnings results on Thursday, April 21st. The industrial products company reported $1.99 earnings per share (EPS) for the quarter. Insteel Industries had a return on equity of 35.52% and a net margin of 14.60%. The business had revenue of $213.21 million during the quarter.
Separately, StockNews.com started coverage on Insteel Industries in a research report on Thursday, March 31st. They set a “strong-buy” rating for the company.
A number of large investors have recently added to or reduced their stakes in IIIN. Baystate Wealth Management LLC bought a new position in shares of Insteel Industries in the fourth quarter worth $26,000. Ensign Peak Advisors Inc bought a new position in shares of Insteel Industries in the third quarter worth $88,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Insteel Industries by 143.2% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,549 shares of the industrial products company’s stock worth $94,000 after acquiring an additional 1,501 shares during the period. Lazard Asset Management LLC boosted its holdings in shares of Insteel Industries by 14.8% in the fourth quarter. Lazard Asset Management LLC now owns 3,998 shares of the industrial products company’s stock worth $159,000 after acquiring an additional 516 shares during the period. Finally, Brown Advisory Inc. bought a new stake in Insteel Industries during the fourth quarter valued at $200,000. 78.59% of the stock is owned by institutional investors and hedge funds.
About Insteel Industries (Get Rating)
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.
- Get a free copy of the StockNews.com research report on Insteel Industries (IIIN)
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