Insteel Industries (NYSE:IIIN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Insteel Industries (NYSE:IIIN) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

Several other equities analysts have also recently commented on the company. Weiss Ratings cut Insteel Industries from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, April 22nd. Zacks Research upgraded shares of Insteel Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, June 16th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Insteel Industries currently has a consensus rating of “Hold”.

Insteel Industries Stock Performance

NYSE:IIIN opened at $31.83 on Friday. The stock has a market cap of $616.23 million, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 1.96 and a beta of 0.52. Insteel Industries has a one year low of $24.35 and a one year high of $39.91. The business’s 50-day simple moving average is $28.52 and its 200 day simple moving average is $31.40.

Insteel Industries (NYSE:IIIN) last issued its quarterly earnings data on Thursday, July 16th. The company reported $0.46 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.01. Insteel Industries had a return on equity of 9.92% and a net margin of 5.14%.The firm had revenue of $197.66 million during the quarter. During the same quarter last year, the business earned $0.78 EPS. On average, equities research analysts predict that Insteel Industries will post 1.32 EPS for the current year.

Insteel Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 26th. Investors of record on Friday, June 12th were issued a $0.03 dividend. This represents a $0.12 annualized dividend and a yield of 0.4%. The ex-dividend date of this dividend was Friday, June 12th. Insteel Industries’s payout ratio is currently 6.45%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of IIIN. AQR Capital Management LLC increased its holdings in shares of Insteel Industries by 12.4% in the 1st quarter. AQR Capital Management LLC now owns 155,949 shares of the company’s stock valued at $4,101,000 after acquiring an additional 17,168 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Insteel Industries during the 1st quarter valued at approximately $225,000. Quantbot Technologies LP bought a new position in Insteel Industries during the second quarter worth $220,000. Arrowstreet Capital Limited Partnership lifted its stake in Insteel Industries by 28.9% during the second quarter. Arrowstreet Capital Limited Partnership now owns 123,667 shares of the company’s stock worth $4,602,000 after purchasing an additional 27,702 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in Insteel Industries by 94.3% in the second quarter. Jump Financial LLC now owns 17,369 shares of the company’s stock worth $646,000 after purchasing an additional 8,429 shares during the period. Institutional investors own 83.27% of the company’s stock.

About Insteel Industries

Insteel Industries, Inc is a leading manufacturer of steel wire reinforcing products used in concrete construction. The company specializes in the design, fabrication and distribution of welded-wire reinforcement, cut-and-bent reinforcement and related accessories for concrete walls, floors and columns. Its products are employed across residential, commercial and infrastructure projects, providing structural strength and dimensional stability in poured concrete applications.

Key product lines include truss mats—prefabricated, ladder-like assemblies of welded wire designed for rapid placement—and custom cut-and-bent wire assemblies that meet specific engineering requirements.