Shares of Insteel Industries Inc (NASDAQ:IIIN) have been assigned a consensus broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. One analyst has rated the stock with a hold recommendation and one has assigned a strong buy recommendation to the company.

Zacks has also given Insteel Industries an industry rank of 237 out of 265 based on the ratings given to related companies.

A number of analysts have commented on IIIN shares. TheStreet cut Insteel Industries from a “b-” rating to a “c+” rating in a research report on Thursday, October 19th. Sidoti cut Insteel Industries from a “buy” rating to a “neutral” rating in a research report on Thursday.

Insteel Industries (NASDAQ:IIIN) traded up $0.48 during mid-day trading on Friday, reaching $32.97. The company’s stock had a trading volume of 243,684 shares, compared to its average volume of 164,229. Insteel Industries has a 52 week low of $23.20 and a 52 week high of $39.20. The company has a market capitalization of $627.78, a P/E ratio of 24.24 and a beta of 2.11.

Insteel Industries (NASDAQ:IIIN) last posted its earnings results on Thursday, January 18th. The industrial products company reported $0.20 earnings per share for the quarter, missing analysts’ consensus estimates of $0.22 by ($0.02). Insteel Industries had a net margin of 6.67% and a return on equity of 10.13%. The firm had revenue of $97.74 million during the quarter, compared to the consensus estimate of $94.90 million. During the same period in the prior year, the company posted $0.23 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year.

In other Insteel Industries news, VP James F. Petelle sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $27.11, for a total value of $27,110.00. Following the completion of the sale, the vice president now owns 14,788 shares in the company, valued at $400,902.68. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 5.70% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Bruce & Co. Inc. purchased a new stake in Insteel Industries in the third quarter worth about $6,149,000. UBS Asset Management Americas Inc. purchased a new stake in Insteel Industries in the second quarter worth about $254,000. Rhumbline Advisers increased its position in Insteel Industries by 25.1% in the third quarter. Rhumbline Advisers now owns 67,137 shares of the industrial products company’s stock worth $1,753,000 after buying an additional 13,455 shares in the last quarter. Epoch Investment Partners Inc. increased its position in Insteel Industries by 2.4% in the second quarter. Epoch Investment Partners Inc. now owns 515,569 shares of the industrial products company’s stock worth $16,998,000 after buying an additional 12,008 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Insteel Industries by 888.2% in the third quarter. JPMorgan Chase & Co. now owns 54,699 shares of the industrial products company’s stock worth $1,397,000 after buying an additional 49,164 shares in the last quarter. Institutional investors and hedge funds own 82.15% of the company’s stock.

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About Insteel Industries

Insteel Industries, Inc is a manufacturer of steel wire reinforcing products for concrete construction applications. The Company’s operations are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. Its concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).

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