The stock of Insteel Industries Inc (NASDAQ:IIIN) is a huge mover today! About 201,866 shares traded hands. Insteel Industries Inc (NASDAQ:IIIN) has risen 4.58% since April 8, 2016 and is uptrending. It has underperformed by 1.07% the S&P500.
The move comes after 6 months positive chart setup for the $687.36M company. It was reported on Nov, 10 by Barchart.com. We have $46.55 PT which if reached, will make NASDAQ:IIIN worth $274.94 million more.
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 Q2 2016. Its down 0.80, from 1.83 in 2016Q1. The ratio dropped, 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.
State Street Corporation owns 329,607 shares or 0% of their US portfolio. Qs Invsts Limited Liability Corp last reported 33,398 shares in the company. Federated Investors Pa accumulated 177 shares or 0% of the stock. Strs Ohio accumulated 25,500 shares or 0% of the stock. The North Carolina-based Carroll Assoc Incorporated has invested 0% in Insteel Industries Inc (NASDAQ:IIIN). Robotti Robert accumulated 1.97% or 190,998 shares. California Public Employees Retirement Systems holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 79,800 shares. Blackrock Japan Com Limited accumulated 1,351 shares or 0% of the stock. Great West Life Assurance Can reported 6,198 shares or 0% of all its holdings. Franklin Res last reported 376,600 shares in the company. Price T Rowe Associate Md, a Maryland-based fund reported 776,757 shares. Northern Trust Corporation holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 281,797 shares. Menta Cap Limited Liability Corp holds 0.05% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 13,960 shares. Rutabaga Mgmt Ltd Llc Ma reported 124,096 shares or 0.66% of all its holdings. Ladenburg Thalmann Service Inc reported 179 shares or 0% of all its holdings.
Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 12 sales for $5.40 million net activity. PETELLE JAMES F had sold 11,913 shares worth $413,429. Wagner Richard also sold $149,679 worth of Insteel Industries Inc (NASDAQ:IIIN) on Wednesday, August 17. 9,488 shares were sold by GAZMARIAN MICHAEL C, worth $316,651. $358,915 worth of Insteel Industries Inc (NASDAQ:IIIN) was sold by Jafroodi Scot R on Wednesday, July 27. 15,000 shares with value of $497,000 were sold by WOLTZ H O III on Thursday, September 1. NEWSOME CHARLES B sold 1,500 shares worth $50,135.
More important recent Insteel Industries Inc (NASDAQ:IIIN) news were published by: Prnewswire.com which released: “Insteel Industries Reports Fourth Quarter and Fiscal 2016 Financial Results” on October 20, 2016, also Prnewswire.com published article titled: “Insteel Industries Announces Appointment And Retirement Of Directors”, Seekingalpha.com published: “Insteel Industries Has Never Been In A Better Position” on February 29, 2016. More interesting news about Insteel Industries Inc (NASDAQ:IIIN) was released by: Prnewswire.com and their article: “Insteel Industries Announces Addition Of Joseph A. Rutkowski To Its Board Of …” with publication date: September 18, 2015.
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 Companyâ€™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 Companyâ€™s concrete reinforcing products consist of PC strand and WWR.
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