Insteel Industries, Inc. (NASDAQ:IIIN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC decreased its position in Insteel Industries, Inc. (NASDAQ:IIINGet Rating) by 38.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,487 shares of the industrial products company’s stock after selling 8,333 shares during the period. SG Americas Securities LLC owned about 0.07% of Insteel Industries worth $499,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Laurel Wealth Advisors Inc. acquired a new position in Insteel Industries in the fourth quarter valued at $388,000. Brookstone Capital Management acquired a new position in Insteel Industries in the first quarter worth $552,000. Baystate Wealth Management LLC lifted its stake in Insteel Industries by 60.2% in the first quarter. Baystate Wealth Management LLC now owns 1,059 shares of the industrial products company’s stock valued at $39,000 after buying an additional 398 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Insteel Industries by 19.0% in the fourth quarter. Oppenheimer & Co. Inc. now owns 185,571 shares of the industrial products company’s stock valued at $7,388,000 after buying an additional 29,630 shares during the last quarter. Finally, Euclidean Technologies Management LLC bought a new stake in shares of Insteel Industries during the first quarter valued at about $1,920,000. 78.59% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Scot R. Jafroodi sold 1,088 shares of Insteel Industries stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $45.50, for a total transaction of $49,504.00. Following the completion of the transaction, the vice president now directly owns 41,296 shares of the company’s stock, valued at approximately $1,878,968. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Richard Wagner sold 10,576 shares of Insteel Industries stock in a transaction dated Wednesday, May 18th. The stock was sold at an average price of $42.58, for a total value of $450,326.08. Following the sale, the chief operating officer now owns 36,620 shares of the company’s stock, valued at $1,559,279.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Scot R. Jafroodi sold 1,088 shares of the business’s stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $45.50, for a total value of $49,504.00. Following the transaction, the vice president now directly owns 41,296 shares in the company, valued at approximately $1,878,968. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,164 shares of company stock worth $521,600. Corporate insiders own 5.20% of the company’s stock.

Insteel Industries Trading Up 1.2 %

Insteel Industries stock opened at $29.46 on Friday. The company has a market capitalization of $574.65 million, a P/E ratio of 4.60 and a beta of 1.21. The firm’s fifty day simple moving average is $36.24 and its 200-day simple moving average is $38.17. Insteel Industries, Inc. has a 1-year low of $28.97 and a 1-year high of $47.70.

Insteel Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 24th. Shareholders of record on Friday, June 10th were given a $0.03 dividend. The ex-dividend date was Thursday, June 9th. This represents a $0.12 annualized dividend and a yield of 0.41%. Insteel Industries’s dividend payout ratio is 1.87%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised Insteel Industries from a “hold” rating to a “buy” rating in a research note on Saturday, July 30th.

Insteel Industries Profile

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Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.

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Institutional Ownership by Quarter for Insteel Industries (NASDAQ:IIIN)

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