The SVP & COO of Insteel Industries (NYSE: IIIN) is Selling Shares

By Carrie Williams

Yesterday, the SVP & COO of Insteel Industries (IIINResearch Report), Richard Wagner, sold shares of IIIN for $47.22K.

Following Richard Wagner’s last IIIN Sell transaction on August 23, 2018, the stock climbed by 1.4%.

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Based on Insteel Industries’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $161 million and quarterly net profit of $18.4 million. In comparison, last year the company earned revenue of $122 million and had a net profit of $6.66 million. The company has a one-year high of $44.00 and a one-year low of $18.83. Currently, Insteel Industries has an average volume of 49.18K.

The insider sentiment on Insteel Industries has been negative according to 40 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

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Insteel Industries, Inc. manufactures and markets steel wire reinforcing products for concrete construction applications. Its products include PC strand and welded wire reinforcement (WWR). The PC strand products refers to seven-wire strand that is used to impart compression forces into precast concrete elements and structures, which may be either pretensioned or posttensioned, providing reinforcement for bridges, parking decks, buildings and other concrete structures. The WWR products produced as either a standard or a specially engineered reinforcing product for use in nonresidential and residential construction. The company was founded by Howard Osler Woltz, Jr. in 1953 and is headquartered in Mount Airy, NC.