The stock of Insteel Industries Inc (NASDAQ:IIIN) is a huge mover today! The stock increased 4.31% or $1.48 on November 22, hitting $35.82. About 432,440 shares traded hands or 44.57% up from the average. Insteel Industries Inc (NASDAQ:IIIN) has risen 8.02% since April 20, 2016 and is uptrending. It has outperformed by 3.47% the S&P500.
The move comes after 6 months positive chart setup for the $696.75 million company. It was reported on Nov, 22 by Barchart.com. We have $37.25 PT which if reached, will make NASDAQ:IIIN worth $27.87 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 increased to 1.42 in 2016 Q2. Its up 0.39, from 1.03 in 2016Q1. The ratio increased, 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.
Voya Investment Management Limited Liability Corporation last reported 0% of its portfolio in the stock. Bogle Investment Management L P De accumulated 68,004 shares or 0.13% of the stock. Diam Com Ltd holds 0.01% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 25,508 shares. The Massachusetts-based Numeric Invsts Limited Liability Company has invested 0.1% in Insteel Industries Inc (NASDAQ:IIIN). Mckinley Capital Management Delaware holds 150 shares or 0% of its portfolio. Cornerstone Capital Limited Liability accumulated 108,254 shares or 0.02% of the stock. Argent Cap Mgmt Limited Liability Company has 0.08% invested in the company for 62,100 shares. Invesco reported 55,845 shares or 0% of all its holdings. Ny State Teachers Retirement System holds 1,600 shares or 0% of its portfolio. Alliancebernstein L P has 0% invested in the company for 52,590 shares. Retail Bank Of Ny Mellon Corp holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 114,436 shares. Rhumbline Advisers holds 0% or 21,195 shares in its portfolio. Martingale Asset Limited Partnership holds 0.02% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 38,901 shares. Amer Century has 92,334 shares for 0% of their US portfolio. The New Mexico-based Hanseatic Mgmt Svcs Inc has invested 0% in Insteel Industries Inc (NASDAQ:IIIN).
Insider Transactions: Since May 31, 2016, the stock had 0 buys, and 12 selling transactions for $5.40 million net activity. Wagner Richard had sold 21,791 shares worth $603,156. PETELLE JAMES F sold $413,429 worth of stock or 11,913 shares. GAZMARIAN MICHAEL C sold $316,651 worth of Insteel Industries Inc (NASDAQ:IIIN) on Wednesday, September 7. 20,000 shares with value of $689,360 were sold by WOLTZ H O III on Tuesday, August 30. 1,500 shares were sold by NEWSOME CHARLES B, worth $50,135 on Friday, June 24. Shares for $358,915 were sold by Jafroodi Scot R.
More notable 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 with their article: “Insteel Industries Declares Regular Quarterly And Special Cash Dividends” published on November 15, 2016, Prnewswire.com published: “Insteel Industries Announces Appointment And Retirement Of Directors” on March 02, 2016. More interesting news about Insteel Industries Inc (NASDAQ:IIIN) were released by: Seekingalpha.com and their article: “Insteel Industries: Rising On The Tide Of Construction Activity” published on February 23, 2016 as well as Seekingalpha.com‘s news article titled: “Insteel Industries Has Never Been In A Better Position” with publication date: February 29, 2016.
IIIN Company Profile
Insteel Industries, Inc., incorporated on December 1, 1958, is a maker of steel wire reinforcing products for concrete construction applications. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). The Company’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Firm sells its products nationwide across the United States, Canada, Mexico, and Central and South America.
Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.