Insteel Industries To Transfer Listing Of Common Stock To The New York Stock Exchange
Insteel Industries, Inc. (NasdaqGS: IIIN) announced it will transfer its common stock listing from NASDAQ to the New York Stock Exchange (NYSE), effective March 17, 2021.
Sentiment and the balance of points
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Rhea-AI Summary
Insteel Industries, Inc. (NasdaqGS: IIIN) announced it will transfer its common stock listing from NASDAQ to the New York Stock Exchange (NYSE), effective March 17, 2021. The company previously traded on the NYSE from 1992 to 2002. H.O. Woltz III, President and CEO, expressed pleasure in returning to the NYSE, aiming to enhance long-term shareholder value. John Tuttle from the NYSE welcomed Insteel, highlighting the advantages of their market model and services. Insteel is the largest U.S. manufacturer of steel wire reinforcing products for concrete construction, operating ten manufacturing facilities nationwide.
Positive
- Relocation of stock listing to NYSE, a prestigious platform.
- Historical presence on NYSE from 1992 to 2002.
- Leadership aims to enhance long-term shareholder value.
Negative
- None.
Details
News Market Reaction – IIIN
The recorded move for IIIN in the trading session of this news was +2.22%.
Data tracked by StockTitan Argus. Session date unavailable.
AI-generated analysis. How Rhea-AI works. Not financial advice.
MOUNT AIRY, N.C., March 3, 2021 /PRNewswire/ -- Insteel Industries, Inc. (NasdaqGS: IIIN) today announced that it is transferring the listing of its common stock to the New York Stock Exchange (NYSE) from The NASDAQ Global Select Market. Insteel's common stock will begin trading on the NYSE on March 17, 2021 under its current ticker symbol of "IIIN". Insteel will continue to trade its common stock on NASDAQ until the close of the market on March 16, 2021.
"We are pleased to return our share listing to the New York Stock Exchange where Insteel was previously listed from 1992 to 2002 and to join the preeminent companies listed there as we continue to focus on delivering long-term value for our shareholders," stated H.O. Woltz III, Insteel's President and CEO.
"We are delighted to welcome Insteel Industries as it transfers its listing back to the NYSE," said John Tuttle, Vice Chairman and Chief Commercial Officer, NYSE Group. "We look forward to working with the company to deliver on the benefits of our unique market model and world-class services."
About Insteel
Insteel is the nation's largest manufacturer of steel wire reinforcing products for concrete construction applications. Insteel manufactures and markets prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement. Insteel's products are sold primarily to manufacturers of concrete products and concrete contractors for use, primarily, in nonresidential construction applications. Headquartered in Mount Airy, North Carolina, Insteel operates ten manufacturing facilities located in the United States.
IIIN – G
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SOURCE Insteel Industries, Inc.
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