Richard Wagner, Senior Vice President and Chief Operating Officer of Insteel Industries Inc. (NASDAQ:NYSE:IIIN), recently executed a small sale of company stock, according to a filing with the Securities and Exchange Commission. On January 21, Wagner sold 13 shares of Insteel Industries common stock at a price of $28.04 per share, totaling approximately $364. The stock has shown strong momentum recently, posting a nearly 9% return over the past week.
A few days earlier, on December 19, Wagner had purchased 21 shares at $28.57 per share, amounting to a total purchase value of $599. Following these transactions, Wagner holds 42,166 shares of Insteel Industries stock. The company maintains a solid financial position, with InvestingPro analysis showing more cash than debt on its balance sheet and a 20-year track record of consistent dividend payments.
Insteel Industries, based in Mount Airy, North Carolina, operates in the steel manufacturing sector, specializing in products such as steel wire reinforcing products for concrete construction applications. With a market capitalization of $562 million and a current ratio of 4.09, the company maintains strong liquidity to meet its short-term obligations. Investors can access detailed financial analysis and additional insights through the comprehensive Pro Research Report available on InvestingPro.
In other recent news, Insteel Industries Inc. has
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