Insteel Industries (NYSE:IIIN) COO Richard Wagner Sells 1,640 Shares

Insteel Industries, Inc. (NYSE:IIIN) COO Richard Wagner sold 1,640 shares of Insteel Industries stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $30.31, for a total transaction of $49,708.40. Following the sale, the chief operating officer owned 40,000 shares in the company, valued at $1,212,400. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Insteel Industries Price Performance

NYSE IIIN opened at $30.67 on Friday. Insteel Industries, Inc. has a 1 year low of $24.35 and a 1 year high of $39.91. The company has a market capitalization of $593.69 million, a PE ratio of 16.49, a P/E/G ratio of 1.60 and a beta of 0.50. The company has a fifty day moving average of $30.91 and a two-hundred day moving average of $31.07.

Insteel Industries (NYSE:IIIN) last posted its earnings results on Thursday, July 16th. The company reported $0.46 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.01. The business had revenue of $197.66 million for the quarter. Insteel Industries had a return on equity of 9.92% and a net margin of 5.14%.During the same quarter last year, the firm posted $0.78 EPS. On average, research analysts expect that Insteel Industries, Inc. will post 1.59 earnings per share for the current year.

Insteel Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 25th. Shareholders of record on Friday, September 11th will be given a dividend of $0.03 per share. The ex-dividend date of this dividend is Friday, September 11th. This represents a $0.12 annualized dividend and a yield of 0.4%. Insteel Industries’s payout ratio is 6.45%.

Analysts Set New Price Targets

Several research firms recently commented on IIIN. Weiss Ratings upgraded shares of Insteel Industries from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, August 3rd. Zacks Research upgraded shares of Insteel Industries from a “hold” rating to a “strong-buy” rating in a research note on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Insteel Industries from a “sell” rating to a “hold” rating in a research note on Saturday, July 18th. One analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Buy”.

Institutional Trading of Insteel Industries

Several hedge funds and other institutional investors have recently made changes to their positions in IIIN. AQR Capital Management LLC lifted its position in Insteel Industries by 12.4% in the first quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock valued at $4,101,000 after purchasing an additional 17,168 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Insteel Industries during the 1st quarter worth approximately $225,000. Quantbot Technologies LP acquired a new position in Insteel Industries during the 2nd quarter worth approximately $220,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Insteel Industries by 28.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock worth $4,602,000 after buying an additional 27,702 shares in the last quarter. Finally, Jump Financial LLC lifted its holdings in shares of Insteel Industries by 94.3% in the 2nd quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock valued at $646,000 after buying an additional 8,429 shares during the period. Hedge funds and other institutional investors own 83.27% of the company’s stock.

About Insteel Industries

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.