Insider Selling: Insteel Industries VP Unloads 8,693 Shares of Stock (IIIN)
Insteel Industries (NASDAQ:IIIN) VP James F. Petelle sold 8,693 shares of Insteel Industries stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $22.16, for a total transaction of $192,636.88. Following the completion of the transaction, the vice president now directly owns 14,789 shares in the company, valued at approximately $327,724. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
Insteel Industries (NASDAQ:IIIN) traded down 0.81% during mid-day trading on Wednesday, hitting $22.03. 10,114 shares of the company’s stock traded hands. Insteel Industries has a 52 week low of $15.18 and a 52 week high of $24.26. The stock has a 50-day moving average of $19.93 and a 200-day moving average of $19.86. The company has a market cap of $403.3 million and a price-to-earnings ratio of 28.44.
Insteel Industries (NASDAQ:IIIN) last posted its quarterly earnings results on Thursday, July 17th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.29 by $0.02. The company had revenue of $113.20 million for the quarter, compared to the consensus estimate of $106.40 million. During the same quarter in the prior year, the company posted $0.19 earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. Analysts expect that Insteel Industries will post $0.91 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Investors of record on Friday, September 12th will be given a dividend of $0.03 per share. This represents a $0.12 dividend on an annualized basis and a yield of 0.54%.
Insteel Industries, Inc (NASDAQ:IIIN) is a manufacturer of steel wire reinforcing products for concrete construction applications.
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