Fairmount Santrol Holdings Inc. (FMSA) and General Electric Company (GE) Register Massive Insider Purchases, Plus Three Other Companies with Notable Insider Trading

Maker of Reinforcing Steel Wire for Concrete Registers Notable Insider Sale

Insteel Industries Inc. (NASDAQ:IIIN) recently has registered one of its most voluminous insider sales of 2016. Michael C. Gazmarian, Vice President, Chief Financial Officer and Treasurer, discarded 59,723 shares on Tuesday for $34.88 each, trimming his overall holding to 78,013 shares. Mr. Gazmarian also owns 20,760 restricted stock units.

The insider selling comes after the nation’s largest manufacturer of steel wire reinforcing products for concrete construction applications released its financial results for its third quarter ended July 2. Insteel Industries Inc. (NASDAQ:IIIN)’s net sales for the quarter decreased by 1.2% year-over-year to $115.6 million, reflecting a 9.8% increase in shipments that was offset by a 10.0% decrease in average selling prices. The increase in shipments was mainly driven by improved market conditions and higher demand, while the decrease in selling prices reflects competitive pricing pressures. Insteel’s shares have gained 65% so far in 2016. Royce & Associates, founded Chuck Royce, owned almost 657,000 shares of Insteel Industries Inc. (NASDAQ:IIIN) at the end of the first quarter.

Lennox International Registers More Insider Selling as Share Price Goes Higher

The insider selling activity at Lennox International Inc. (NYSE:LII) has been increasing as of late along with the company’s share price. Prakash Bedapudi, Chief Technology Officer and Executive Vice President, sold 3,667 shares on Wednesday at a weighted average price of $154.90 per unit, cutting his stake to 12,773 shares. Other top-tier executives also offloaded massive amounts of shares under pre-arranged trading plans.

Lennox International Inc. (NYSE:LII), which activates in the heating, ventilation, air conditioning and refrigeration (HVACR) industry, has seen its market capitalization jump by 26% since the start of the year. The company’s second-quarter top line grew by 3% year-on-year to $1.02 billion. Jim Simons’ Renaissance Technologies had 187,600 shares of Lennox International Inc. (NYSE:LII) in its portfolio on March 31.

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