The chief financial officer of Mount Airy, North Carolina-based Insteel Industries Inc. has sold $1.4 million worth of company stock.

Michael C. Gazmarian sold 21,100 shares at a price of $40.24 and another 14,800 shares at a price of $40.08, according to a Form 4 filed with the Securities and Exchange Commission.

Gazmarian, who has been CFO and treasurer of Insteel Industries since 1994, now directly owns 33,472 shares worth $1.3 million.

Gazmarian was elected vice president, CFO and treasurer in February 2007. He previously served as CFO and treasurer since 1994, the year he joined the company.

Gazmarian was previously employed by Guardian Industries Corp., a privately held manufacturer of glass, automotive and building products, since 1986, where he served in various capacities, lastly as vice president of finance and administration of a Guardian subsidiary.

With 10 manufacturing plants in the United States, Insteel Industries is the country’s biggest manufacturer of steel wiring for concrete construction applications.

Insteel Industries’ stock closed Thursday at $39.91, down 9 cents, or 0.23 percent, for the day.

The filing can be found here.