Today it was reported that the VP of Insteel Industries (NASDAQ: IIIN), James Petelle, exercised options to sell 13,202 IIIN shares at $21.23 a share, for a total transaction value of $566.4K.
Following James Petelle’s last IIIN Sell transaction on February 20, 2018, the stock climbed by 11.2%. In addition to James Petelle, 2 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 $805M and the company has a P/E ratio of 26.36. Currently, Insteel Industries has an average volume of 113.7K.
The insider sentiment on Insteel Industries has been negative according to 31 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.
