Insider Heat: The Vice President of Insteel Industries Inc (NASDAQ:IIIN), Richard Wagner Sold 14,303 Shares of the Company

November 30, 2016 - By Winifred Garcia

Insider Heat: The Vice President of Insteel Industries Inc (NASDAQ:IIIN), Richard Wagner Sold 14,303 Shares of the Company

Richard Wagner Insider Sell

Richard Wagner; that is an insider in Insteel Industries Inc who is the latest to unload shares in the company for which he is at present the Vice President. Richard in the last few days sold some 14,303 shares of the company, that are worth around $578,099 U.S Dollars, that is a share price of exactly $40.4. as shown in a SEC report dated 30-11-2016. The regulatory filing shows that Richard Wagner now owns roughly 0.10% of the North Carolina-based company’s market cap

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. On Tuesday, November 22 the stock rating was upgraded by Sidoti to “Buy”. Rosenblatt maintained Insteel Industries Inc (NASDAQ:IIIN) on Friday, July 22 with “Neutral” rating.

Insitutional Activity: The institutional sentiment increased to 1.42 in Q2 2016. Its up 0.39, from 1.03 in 2016Q1. The ratio is positive, 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.

Morgan Stanley has 89,229 shares for 0% of their US portfolio. California State Teachers Retirement owns 36,750 shares or 0% of their US portfolio. Us Financial Bank De owns 1,553 shares or 0% of their US portfolio. Millennium Management Limited Liability Company last reported 0% of its portfolio in the stock. Numeric Investors Limited Liability Company holds 0.1% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 396,476 shares. Bnp Paribas Arbitrage Sa last reported 0% of its portfolio in the stock. Ativo Capital Ltd Liability holds 0.22% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 31,008 shares. Parametric Port Associate Ltd Liability Company holds 12,152 shares or 0% of its portfolio. Tradewinds Invsts Lc last reported 0.02% of its portfolio in the stock. The Unknown-based Mckinley Capital Management Limited Com Delaware has invested 0% in Insteel Industries Inc (NASDAQ:IIIN). Moreover, Employees Retirement Of Texas has 0.02% invested in Insteel Industries Inc (NASDAQ:IIIN) for 52,000 shares. Susquehanna Group Inc Limited Liability Partnership owns 68,343 shares or 0% of their US portfolio. Argent Mgmt Ltd Liability Company accumulated 62,100 shares or 0.08% of the stock. Profit Investment Management Limited Co accumulated 71,479 shares or 1.65% of the stock. Convergence Invest has 0.2% invested in the company for 51,432 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 insider purchases, and 13 selling transactions for $4.95 million net activity. Shares for $689,360 were sold by WOLTZ H O III on Tuesday, August 30. The insider PETELLE JAMES F sold 766 shares worth $26,279. PECHOTA GARY L also sold $81,562 worth of Insteel Industries Inc (NASDAQ:IIIN) on Friday, November 25. Jafroodi Scot R had sold 10,345 shares worth $358,915. Another trade for 1,500 shares valued at $50,135 was made by NEWSOME CHARLES B on Friday, June 24. GAZMARIAN MICHAEL C had sold 9,488 shares worth $316,651. Shares for $75,548 were sold by Wagner Richard.

The stock closed at $40.11 during the last session. It is down 37.93% since April 27, 2016 and is uptrending. It has outperformed by 32.70% 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 $743.50 million. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. It has a 20.55 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 29 Filed by: Wagner Richard” on November 30, 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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