Insteel Industries Inc (IIIN) Files Form 4 Insider Selling : Richard Wagner Sells 21,791 Shares

Insteel Industries Inc (IIIN): Richard Wagner , Vice President of Insteel Industries Inc sold 21,791 shares on May 31, 2016. The Insider selling transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were sold at $27.67 per share for a total value of $603,156.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 6, 2016, Richard Wagner (Vice President) sold 9,653 shares at $28.21 per share price.On Apr 29, 2016, Scot R Jafroodi (Chief Accounting Officer) sold 16,360 shares at $28.79 per share price.Also, On Apr 27, 2016, James F Petelle (Vice President) sold 10,302 shares at $29.46 per share price.On Apr 26, 2016, Gary L Pechota (director) sold 3,000 shares at $28.58 per share price.

Insteel Industries Inc: On Wednesday, Jun 1, 2016 heightened volatility was witnessed in Insteel Industries Inc which led to swings in the share price. The shares opened for trading at $27.54 and hit $28.09 on the upside , eventually ending the session at $28, with a gain of 1.01% or 0.28 points. The heightened volatility saw the trading volume jump to 1,05,318 shares. The 52-week high of the share price is $32.11 and the company has a market cap of $526 M . The 52-week low of the share price is at $14.61.

Insteel Industries Inc Money Flow Index Chart

On May 17, 2016, Insteel Industries Inc announced a cash dividend of $0.0300. The company’s management has announced Jun 8, 2016 as the ex-dividend date and fixed the record date on Jun 10, 2016. The payable date has been fixed on Jun 24, 2016.

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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Insteel Industries Inc - Is it time to Sell?

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