Insteel Industries VP Sells $192,637 in Stock (IIIN)
Insteel Industries (NASDAQ:IIIN) VP James F. Petelle sold 8,693 shares of the company’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 14,789 shares in the company, valued at approximately $327,724. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
Insteel Industries (NASDAQ:IIIN) remained flat at $22.24 during during mid-day trading trading on Friday. The stock had a trading volume of 6,296 shares. Insteel Industries has a one year low of $15.18 and a one year high of $24.26. The stock’s 50-day moving average is $20.07 and its 200-day moving average is $19.90. The company has a market cap of $407.1 million and a price-to-earnings ratio of 28.48.
Insteel Industries (NASDAQ:IIIN) last announced its earnings results on Thursday, July 17th. The company reported $0.31 earnings per share (EPS) for the quarter, beating the 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 previous year, the company posted $0.19 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts predict that Insteel Industries will post $0.91 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, September 26th. Shareholders 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%. The ex-dividend date of this dividend is Wednesday, September 10th.
Insteel Industries, Inc (NASDAQ:IIIN) is a manufacturer of steel wire reinforcing products for concrete construction applications.
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