The VP, Sec. and CLO of Insteel Industries is Exercising Options

By Carrie Williams

Today it was reported that the VP, Sec. and CLO of Insteel Industries (IIINResearch Report), James Petelle, exercised options to sell 6,505 IIIN shares at $20.30 a share, for a total transaction value of $251.4K.

Following James Petelle’s last IIIN Sell transaction on February 08, 2021, the stock climbed by 10.7%.

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Based on Insteel Industries’ latest earnings report for the quarter ending March 31, the company posted quarterly revenue of $139 million and quarterly net profit of $14.92 million. In comparison, last year the company earned revenue of $115 million and had a net profit of $4.36 million. The company has a one-year high of $39.48 and a one-year low of $13.54. IIIN’s market cap is $762 million and the company has a P/E ratio of 20.10.

The insider sentiment on Insteel Industries has been negative according to 32 insider trades in the past three months. This sentiment is lower than the average sentiment of company insiders in this sector.

James Petelle’s trades have generated a 1.9% average return based on past transactions. DailyInsider proprietary algorithm detects trades by the most influential insiders and selects attractive trading opportunities daily. To subscribe to the DailyInsider visit this page.

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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.