Richard Wagner Sells 10,732 Shares of Insteel Industries Inc (IIIN) Stock
Insteel Industries Inc (NASDAQ:IIIN) VP Richard Wagner sold 10,732 shares of the stock in a transaction on Wednesday, May 24th. The stock was sold at an average price of $31.62, for a total value of $339,345.84. Following the completion of the sale, the vice president now owns 27,500 shares of the company’s stock, valued at approximately $869,550. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Richard Wagner also recently made the following trade(s):
- On Tuesday, May 23rd, Richard Wagner sold 20,465 shares of Insteel Industries stock. The stock was sold at an average price of $31.99, for a total value of $654,675.35.
- On Wednesday, March 1st, Richard Wagner sold 12,466 shares of Insteel Industries stock. The stock was sold at an average price of $38.33, for a total value of $477,821.78.
Shares of Insteel Industries Inc (NASDAQ:IIIN) traded down 0.22% on Thursday, hitting $31.23. The stock had a trading volume of 217,851 shares. The firm has a market cap of $594.15 million, a P/E ratio of 17.01 and a beta of 2.30. The firm’s 50-day moving average price is $34.41 and its 200 day moving average price is $35.62. Insteel Industries Inc has a 12 month low of $22.50 and a 12 month high of $42.81.
Insteel Industries (NASDAQ:IIIN) last released its quarterly earnings results on Thursday, April 20th. The industrial products company reported $0.39 earnings per share for the quarter, missing the consensus estimate of $0.51 by $0.12. Insteel Industries had a return on equity of 16.65% and a net margin of 8.33%. The company had revenue of $101.16 million for the quarter, compared to analyst estimates of $102.46 million. During the same quarter last year, the company earned $0.38 EPS. The firm’s revenue for the quarter was down 5.8% on a year-over-year basis. Analysts anticipate that Insteel Industries Inc will post $1.79 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Investors of record on Friday, June 16th will be given a dividend of $0.03 per share. The ex-dividend date is Wednesday, June 14th. This represents a $0.12 annualized dividend and a dividend yield of 0.38%. Insteel Industries’s dividend payout ratio (DPR) is presently 6.56%.
A number of brokerages have issued reports on IIIN. Sidoti began coverage on Insteel Industries in a research note on Wednesday, March 22nd. They issued a “buy” rating for the company. Longbow Research began coverage on Insteel Industries in a research report on Friday, March 10th. They set a “buy” rating for the company.
About Insteel Industries
Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
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