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

Key Points

• Insteel Industries COO Richard Wagner sold 1,640 shares at an average price of $30.31, generating approximately $49,708. After the transaction, he retained 40,000 shares.
• IIIN shares rose 0.5% to $30.67, while the company reported quarterly EPS of $0.46, slightly ahead of analyst expectations, on revenue of $197.66 million.
• The company declared a quarterly dividend of $0.03 per share, equivalent to a 0.4% yield. Analyst sentiment is broadly positive, with the stock carrying an average “Buy” rating and institutional investors owning 83.27% of shares.

Insteel Industries, Inc. (NYSE:IIIN - Get Free Report) COO Richard Wagner sold 1,640 shares of the stock in a transaction that occurred on Thursday, August 27th. The shares were sold at an average price of $30.31, for a total transaction of $49,708.40. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website.

Insteel Industries Stock Up 0.5%

NYSE IIIN traded up $0.16 during trading on Thursday, reaching $30.67. 187,779 shares of the stock traded hands, compared to its average volume of 240,487. The firm has a market cap of $593.75 million, a price-to-earnings ratio of 16.49, a price-to-earnings-growth ratio of 1.59 and a beta of 0.50. The stock's 50-day moving average price is $30.88 and its 200 day moving average price is $31.11. Insteel Industries, Inc. has a fifty-two week low of $24.35 and a fifty-two week high of $39.91.

Insteel Industries (NYSE:IIIN - Get Free Report) last issued its earnings results on Thursday, July 16th. The company reported $0.46 EPS for the quarter, beating the consensus estimate of $0.45 by $0.01. The firm had revenue of $197.66 million during the quarter. Insteel Industries had a net margin of 5.14% and a return on equity of 9.92%. During the same period in the previous year, the company posted $0.78 EPS. Analysts anticipate that Insteel Industries, Inc. will post 1.59 EPS for the current fiscal year.

Insteel Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 25th. Investors of record on Friday, September 11th will be paid a dividend of $0.03 per share. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend is Friday, September 11th. Insteel Industries's dividend payout ratio (DPR) is presently 6.45%.

Wall Street Analyst Weigh In

IIIN has been the subject of a number of research analyst reports. Zacks Research raised Insteel Industries from a "hold" rating to a "strong-buy" rating in a research note on Friday, July 17th. Wall Street Zen raised Insteel Industries from a "sell" rating to a "hold" rating in a research report on Saturday, July 18th. Finally, Weiss Ratings upgraded Insteel Industries from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Insteel Industries currently has an average rating of "Buy".

Institutional Investors Weigh In On Insteel Industries

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. bought a new position in Insteel Industries during the 2nd quarter worth about $46,014,000. Vanguard Group Inc. lifted its holdings in shares of Insteel Industries by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 1,415,156 shares of the company's stock valued at $44,818,000 after purchasing an additional 17,660 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of Insteel Industries by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,087,782 shares of the company's stock valued at $36,559,000 after purchasing an additional 24,429 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Insteel Industries by 1.2% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 990,770 shares of the company's stock worth $37,986,000 after buying an additional 11,931 shares during the period. Finally, State Street Corp grew its holdings in shares of Insteel Industries by 0.5% during the fourth quarter. State Street Corp now owns 727,168 shares of the company's stock worth $23,029,000 after buying an additional 3,919 shares in the last quarter. 83.27% of the stock is owned by institutional investors.

Insteel Industries Company Profile

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.

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