Insider Filings: Insteel Industries Inc (NASDAQ:IIIN)’s Vice President James Petelle Sold 1,902 Shares

November 29, 2016 - By Peter Erickson

Insider Filings: Insteel Industries Inc (NASDAQ:IIIN)'s Vice President James Petelle Sold 1,902 Shares

James Petelle Insider Sell

The Vice President of Insteel Industries Inc, James Petelle is in the stock market news today. It was reported in a public document filled by James Petelle and submitted to the SEC on 29-11-2016, he sold 1,902 shares from the company valued at near $77,370 USD. James Petelle’s shares average price was $40.7. James Petelle now possess 10,233 shares of Insteel Industries Inc.

Insteel Industries Inc (NASDAQ:IIIN) Ratings Coverage

Out of 2 analysts covering InSteel Industries (NASDAQ:IIIN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. InSteel Industries has been the topic of 2 analyst reports since July 22, 2016 according to StockzIntelligence Inc. Rosenblatt maintained the shares of IIIN in a report on Friday, July 22 with “Neutral” rating. The rating was upgraded by Sidoti to “Buy” on Tuesday, November 22.

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.39, from 1.03 in 2016Q1. The ratio improved, as 15 funds sold all Insteel Industries Inc shares owned while 53 reduced positions. 29 funds bought stakes while 41 increased positions. They now own 14.39 million shares or 2.56% more from 14.03 million shares in 2016Q1.

First Wilshire Secs has 0.7% invested in the company for 76,685 shares. Moreover, State Board Of Administration Of Florida Retirement Systems has 0% invested in Insteel Industries Inc (NASDAQ:IIIN) for 18,742 shares. The Unknown-based Mckinley Capital Mgmt Limited Liability Co Delaware has invested 0% in Insteel Industries Inc (NASDAQ:IIIN). Sei accumulated 0% or 579 shares. Retail Bank Of Montreal Can has 5,064 shares for 0% of their US portfolio. Morgan Stanley has 89,229 shares for 0% of their US portfolio. Principal Fincl Grp Incorporated Inc last reported 296,288 shares in the company. Envestnet Asset Mgmt has invested 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN). Citigroup accumulated 0% or 6,025 shares. Metropolitan Life Ins Co, a New York-based fund reported 13,905 shares. Invesco Limited owns 55,845 shares or 0% of their US portfolio. Coe Capital Management Ltd Liability Corp holds 13,326 shares or 0% of its portfolio. Millennium Mngmt Lc last reported 65,822 shares in the company. Vanguard Group Inc holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 944,338 shares. Nationwide Fund holds 41,596 shares or 0.01% of its portfolio.

Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 12 selling transactions for $4.87 million net activity. Wagner Richard sold 21,791 shares worth $603,156. WOLTZ H O III also sold $689,360 worth of Insteel Industries Inc (NASDAQ:IIIN) shares. PETELLE JAMES F sold 766 shares worth $26,279. Shares for $358,915 were sold by Jafroodi Scot R. 9,488 shares were sold by GAZMARIAN MICHAEL C, worth $316,651 on Wednesday, September 7. $50,135 worth of Insteel Industries Inc (NASDAQ:IIIN) shares were sold by NEWSOME CHARLES B. PECHOTA GARY L also sold $81,562 worth of Insteel Industries Inc (NASDAQ:IIIN) shares.

About 618,482 shares traded hands or 31.15% up from the average. Insteel Industries Inc (NASDAQ:IIIN) has risen 38.86% since April 26, 2016 and is uptrending. It has outperformed by 33.60% the S&P500.

Insteel Industries, Inc. is a manufacturer of steel wire reinforcing products for concrete construction applications. The company has a market cap of $741.20 million. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. It has a 20.72 P/E ratio. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand and welded wire reinforcement (WWR).

According to Zacks Investment Research, “Insteel Industries is one of the nation’s largest manufacturers of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets prestressed concrete strand and welded wire reinforcement, including concrete pipe reinforcement, engineered structural mesh and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates six manufacturing facilities located in the United States.”

Analysts await Insteel Industries Inc (NASDAQ:IIIN) to report earnings on January, 19.

More recent Insteel Industries Inc (NASDAQ:IIIN) news were published by: Foxbusiness.com which released: “Why Insteel Industries Inc. Stock Jumped 13% Today” on November 25, 2016. Also Streetinsider.com published the news titled: “Form 4 INSTEEL INDUSTRIES INC For: Nov 25 Filed by: PECHOTA GARY L” on November 29, 2016. Marketwatch.com‘s news article titled: “/quotes/zigman/3870025/realtime” with publication date: December 22, 2009 was also an interesting one.

IIIN Company Profile

Insteel Industries, Inc., incorporated on December 1, 1958, is a maker of steel wire reinforcing products for concrete construction applications. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). The Company’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Firm sells its products nationwide across the United States, Canada, Mexico, and Central and South America.

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