Price Action to Note: What’s in Insteel Industries Inc After Making Record High?

Price Action to Note: What's in Insteel Industries Inc After Making Record High?

The stock of Insteel Industries Inc (NASDAQ:IIIN) reached all time high today, Sep, 30 and still has $57.42 target or 58.00% above today’s $36.34 share price. This indicates more upside for the $676.94M company. This technical setup was reported by Barchart.com. If the $57.42 PT is reached, the company will be worth $392.63 million more.
Trading stocks at an all time highs is usually a winning strategy. An all time high points to a stock which has the most positive fundamentals ever. Even thought the pullback rate is high, if correct risk management is utilized, investors can trade very well such events. About 79,265 shares traded hands. Insteel Industries Inc (NASDAQ:IIIN) has risen 40.86% since February 26, 2016 and is uptrending. It has outperformed by 30.43% the S&P500.

Analysts await Insteel Industries Inc (NASDAQ:IIIN) to report earnings on October, 27.

According to Zacks Investment Research, “Insteel Industries is one of the nation’s largest manufacturers of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets prestressed concrete strand and welded wire reinforcement, including concrete pipe reinforcement, engineered structural mesh and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates six manufacturing facilities located in the United States.”

Insitutional Activity: The institutional sentiment decreased to 1.03 in 2016 Q2. Its down 0.80, from 1.83 in 2016Q1. The ratio worsened, as 15 funds sold all Insteel Industries Inc shares owned while 53 reduced positions. 29 funds bought stakes while 41 increased positions. They now own 14.39 million shares or 2.56% more from 14.03 million shares in 2016Q1.
Buckhead Capital Mgmt Limited last reported 35,385 shares in the company. Virginia Retirement System Et Al, a Virginia-based fund reported 11,100 shares. Moreover, Teachers Advisors Inc has 0% invested in Insteel Industries Inc (NASDAQ:IIIN) for 27,916 shares. Cortina Asset Mgmt Limited Liability Corporation accumulated 0.19% or 142,502 shares. Piermont Management last reported 34,835 shares in the company. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 465 shares in its portfolio. Wedge Mgmt L L P Nc holds 0.01% or 38,400 shares in its portfolio. Secor Cap Limited Partnership accumulated 13,952 shares or 0.05% of the stock. First Trust Advisors L P reported 9,173 shares or 0% of all its holdings. Northern holds 0% or 281,797 shares in its portfolio. Geode Cap Management, a Massachusetts-based fund reported 151,651 shares. First Wilshire Inc has invested 0.7% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN). Tiaa Cref Inv Mgmt Llc, a New York-based fund reported 98,523 shares. Allianz Asset Mgmt Ag has invested 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN). Metropolitan Life Insurance Co Ny has 0% invested in the company for 13,905 shares.

Insider Transactions: Since April 25, 2016, the stock had 0 buys, and 17 insider sales for $7.12 million net activity. WOLTZ H O III sold $689,360 worth of stock. Jafroodi Scot R had sold 10,345 shares worth $358,915. 766 shares were sold by PETELLE JAMES F, worth $26,279. Wagner Richard sold $272,391 worth of stock. 59,723 Insteel Industries Inc (NASDAQ:IIIN) shares with value of $2.08M were sold by GAZMARIAN MICHAEL C. Shares for $50,135 were sold by NEWSOME CHARLES B on Friday, June 24. On Monday, April 25 PECHOTA GARY L sold $85,731 worth of the stock or 3,000 shares.

More news for Insteel Industries Inc (NASDAQ:IIIN) were recently published by: Prnewswire.com, which released: “Insteel Industries Announces Addition Of Joseph A. Rutkowski To Its Board Of …” on September 18, 2015. Prnewswire.com‘s article titled: “Insteel Industries Announces Consolidation Of Prestressed Concrete Strand …” and published on February 10, 2015 is yet another important article.

IIIN Company Profile

Insteel Industries, Inc. (Insteel), incorporated in 1958, is a maker of steel wire reinforcing products for concrete construction applications. The Firm makes and markets PC strand and welded wire reinforcement (WWR), including Engineered Structural Mesh (ESM), concrete pipe reinforcement (CPR) and standard welded wire reinforcement (SWWR). The Company’s products are sold to manufacturers of concrete products that are used in nonresidential construction. Insteel has two wholly owned subsidiaries, Insteel Wire Products Company (IWP), an operating subsidiary, and Intercontinental Metals Corporation, an inactive subsidiary. The Company’s concrete reinforcing products consist of PC strand and WWR.

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