Insteel Industries Inc (IIIN) Files Form 4 Insider Selling : Richard Wagner Sells 20,680 Shares

Insteel Industries Inc (IIIN): Richard Wagner , Vice President of Insteel Industries Inc sold 20,680 shares on May 3, 2016. The Insider selling transaction was reported by the company on May 4, 2016 to the Securities and Exchange Commission. The shares were sold at $28.41 per share for a total value of $587,518.81 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Apr 29, 2016, Scot R Jafroodi (Chief Accounting Officer) sold 16,360 shares at $28.79 per share price.On Apr 27, 2016, James F Petelle (Vice President) sold 10,302 shares at $29.46 per share price.Also, On Apr 26, 2016, Gary L Pechota (director) sold 3,000 shares at $28.58 per share price.On Mar 9, 2016, H O Iii Woltz (Chairman, President and CEO) sold 73,796 shares at $26.16 per share price.

Shares of Insteel Industries Inc (IIIN) ended Wednesday, May 4, 2016 session in red amid volatile trading. The shares closed down -0.01 points or -0.04% at $28.08 with 1,42,345 shares getting traded. Post opening the session at $28, the shares hit an intraday low of $27.54 and an intraday high of $28.32 and the price vacillated in this range throughout the day. The company has a market cap of $528 M and the number of outstanding shares has been calculated to be 1,87,86,486 shares. The 52-week high of Insteel Industries Inc is $32.11 and the 52-week low is $14.61.

Insteel Industries Inc Money Flow Index Chart

Company has been under the radar of several Street Analysts.Insteel Industries Inc is Downgraded by Sidoti to Neutral. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Apr 1, 2016.

Insteel Industries Inc. (Insteel) is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets PC strand and welded wire reinforcement (WWR) including Engineered Structural Mesh (ESM) concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR). The Company’s products are sold to manufacturers of concrete products that are used in nonresidential construction. Insteel has two wholly owned subsidiaries Insteel Wire Products Company (IWP) an operating subsidiary and Intercontinental Metals Corporation an inactive subsidiary. The Company’s concrete reinforcing products consist of PC strand and WWR. PC strand provides reinforcement for bridges parking decks buildings and other concrete structures. Welded Wire Reinforcement produces engineered reinforcing product for use in nonresidential and residential construction.

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