Insteel Industries (NASDAQ:IIIN) Shares Pass Above 200-Day Moving Average - Time to Sell?

Insteel Industries, Inc. (NASDAQ:IIIN - Get Free Report) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $34.82 and traded as high as $38.37. Insteel Industries shares last traded at $38.33, with a volume of 64,707 shares changing hands.

Insteel Industries Stock Up 1.1%

The stock has a 50-day moving average of $37.62 and a 200 day moving average of $34.82. The stock has a market cap of $743.99 million, a PE ratio of 38.72, a price-to-earnings-growth ratio of 1.81 and a beta of 0.78.

Insteel Industries (NASDAQ:IIIN - Get Free Report) last issued its earnings results on Thursday, July 17th. The industrial products company reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.09. Insteel Industries had a return on equity of 5.91% and a net margin of 3.58%.The company's revenue was up 23.4% compared to the same quarter last year. During the same period last year, the company earned $0.34 EPS. On average, equities analysts anticipate that Insteel Industries, Inc. will post 1.38 EPS for the current year.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 26th. Shareholders of record on Friday, September 12th were issued a $0.03 dividend. The ex-dividend date of this dividend was Friday, September 12th. This represents a $0.12 dividend on an annualized basis and a yield of 0.3%. Insteel Industries's payout ratio is presently 7.50%.

Insider Transactions at Insteel Industries

In other Insteel Industries news, SVP James R. York sold 3,000 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $38.50, for a total value of $115,500.00. Following the completion of the transaction, the senior vice president directly owned 9,443 shares of the company's stock, valued at approximately $363,555.50. The trade was a 24.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.00% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Cresset Asset Management LLC lifted its stake in Insteel Industries by 0.7% during the 2nd quarter. Cresset Asset Management LLC now owns 39,738 shares of the industrial products company's stock worth $1,479,000 after acquiring an additional 294 shares in the last quarter. Smartleaf Asset Management LLC lifted its stake in Insteel Industries by 30.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 2,516 shares of the industrial products company's stock worth $95,000 after acquiring an additional 583 shares in the last quarter. Unison Advisors LLC lifted its stake in Insteel Industries by 3.8% during the 1st quarter. Unison Advisors LLC now owns 18,144 shares of the industrial products company's stock worth $477,000 after acquiring an additional 666 shares in the last quarter. Oppenheimer & Close LLC lifted its stake in Insteel Industries by 0.5% during the 1st quarter. Oppenheimer & Close LLC now owns 138,041 shares of the industrial products company's stock worth $3,630,000 after acquiring an additional 678 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Insteel Industries by 7.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 11,552 shares of the industrial products company's stock valued at $429,000 after purchasing an additional 785 shares in the last quarter. 83.27% of the stock is owned by institutional investors and hedge funds.

Insteel Industries Company Profile

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.

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