Insteel Industries (NASDAQ:IIIN) was upgraded by investment analysts at TheStreet from a “c+” rating to a “b-” rating in a report released on Wednesday.

Separately, Sidoti downgraded Insteel Industries from a “buy” rating to a “neutral” rating in a research note on Thursday.

Shares of Insteel Industries (NASDAQ IIIN) opened at $31.64 on Wednesday. Insteel Industries has a 1 year low of $23.20 and a 1 year high of $39.20. The company has a market capitalization of $567.99, a PE ratio of 26.81 and a beta of 2.11.

Insteel Industries (NASDAQ:IIIN) last announced its quarterly earnings data on Thursday, October 19th. The industrial products company reported $0.20 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.05). Insteel Industries had a return on equity of 10.50% and a net margin of 5.80%. The business had revenue of $96.89 million for the quarter, compared to analyst estimates of $96.25 million. During the same quarter in the previous year, the business posted $0.51 earnings per share. The company’s revenue was down 6.0% compared to the same quarter last year.

In other news, VP James F. Petelle sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, October 24th. The stock was sold at an average price of $27.11, for a total transaction of $27,110.00. Following the completion of the sale, the vice president now directly owns 14,788 shares of the company’s stock, valued at approximately $400,902.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.70% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Royal Bank of Canada raised its stake in shares of Insteel Industries by 12.5% during the 2nd quarter. Royal Bank of Canada now owns 1,453,445 shares of the industrial products company’s stock worth $47,921,000 after purchasing an additional 161,813 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Insteel Industries by 1.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,314,319 shares of the industrial products company’s stock worth $34,317,000 after purchasing an additional 17,055 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Insteel Industries by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 1,161,064 shares of the industrial products company’s stock worth $38,280,000 after purchasing an additional 11,906 shares in the last quarter. Epoch Investment Partners Inc. raised its stake in shares of Insteel Industries by 16.1% during the 3rd quarter. Epoch Investment Partners Inc. now owns 598,363 shares of the industrial products company’s stock worth $15,624,000 after purchasing an additional 82,794 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. raised its stake in shares of Insteel Industries by 66.4% during the 4th quarter. Thomson Horstmann & Bryant Inc. now owns 482,220 shares of the industrial products company’s stock worth $13,656,000 after purchasing an additional 192,360 shares in the last quarter. 81.03% of the stock is owned by institutional investors.

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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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