The VP & CFO of Insteel Industries is Exercising Options


Today it was reported that the VP & CFO of Insteel Industries (NASDAQ: IIIN), Michael Gazmarian, exercised options to sell 40,809 IIIN shares at $20.49 a share, for a total transaction value of $1.66M.

Following Michael Gazmarian’s last IIIN Sell transaction on July 28, 2016, the stock climbed by 8.3%. In addition to Michael Gazmarian, 5 other IIIN executives reported Sell trades in the last month.

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Based on Insteel Industries’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $127 million and quarterly net profit of $12.87 million. In comparison, last year the company earned revenue of $96.94 million and had a net profit of $6.87 million. IIIN’s market cap is $772.8M and the company has a P/E ratio of 25.31. Currently, Insteel Industries has an average volume of 7,667.

The insider sentiment on Insteel Industries has been negative according to 36 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. It also manufactures and markets prestressed concrete strand and welded wire reinforcement, including concrete pipe reinforcement and engineered structural mesh.

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