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Insteel Industries (NASDAQ:IIIN - Get Rating) was upgraded by equities research analysts at Sidoti from a "neutral" rating to a "buy" rating in a research note issued to investors on Thursday, The Fly reports.

Separately, StockNews.com initiated coverage on Insteel Industries in a report on Wednesday. They issued a "buy" rating for the company.Insteel Industries Price Performance

IIIN traded up $0.55 during trading hours on Thursday, hitting $28.10. 1,262 shares of the stock were exchanged, compared to its average volume of 96,890. The stock has a market cap of $548.23 million, a price-to-earnings ratio of 4.38 and a beta of 1.20. Insteel Industries has a 12 month low of $26.02 and a 12 month high of $47.70. The stock has a 50-day simple moving average of $28.97 and a 200-day simple moving average of $34.96.

Insteel Industries (NASDAQ:IIIN - Get Rating) last released its earnings results on Thursday, July 21st. The industrial products company reported $1.96 earnings per share for the quarter. Insteel Industries had a return on equity of 39.39% and a net margin of 15.93%. The company had revenue of $227.17 million for the quarter. Institutional Investors Weigh In On Insteel Industries

Several institutional investors have recently made changes to their positions in the stock. Pacer Advisors Inc. boosted its holdings in shares of Insteel Industries by 25.1% during the first quarter. Pacer Advisors Inc. now owns 52,251 shares of the industrial products company's stock worth $1,933,000 after purchasing an additional 10,498 shares during the period. Everence Capital Management Inc. lifted its stake in Insteel Industries by 54.2% in the 1st quarter. Everence Capital Management Inc. now owns 8,650 shares of the industrial products company's stock worth $320,000 after purchasing an additional 3,040 shares in the last quarter. Brookstone Capital Management purchased a new stake in shares of Insteel Industries during the 1st quarter valued at about $552,000. Carolina Wealth Advisors LLC grew its holdings in Insteel Industries by 8.8% during the 1st quarter. Carolina Wealth Advisors LLC now owns 7,359 shares of the industrial products company's stock valued at $272,000 after purchasing an additional 596 shares during the last quarter. Finally, Baystate Wealth Management LLC grew its stake in Insteel Industries by 60.2% in the 1st quarter. Baystate Wealth Management LLC now owns 1,059 shares of the industrial products company's stock worth $39,000 after acquiring an additional 398 shares in the last quarter. Hedge funds and other institutional investors own 77.66% of the company's stock. Insteel Industries Company Profile (Get Rating)

Insteel Industries, Inc, together with its subsidiaries, manufactures and markets steel wire reinforcing products for concrete construction applications. The company offers prestressed concrete strand (PC strand) and welded wire reinforcement (WWR) products. Its PC strand is a seven-wire strand that is used to impart compression forces into precast concrete elements and structures providing reinforcement for bridges, parking decks, buildings, and other concrete structures.Featured StoriesGet a free copy of the StockNews.com research report on Insteel Industries (IIIN)Constellation Brands Stock May Offer Safety in the Market Storm Domino’s Pizza Rises To The Occasion In Q3 O'Reilly & AutoZone Outperform The S&P: Is Either A Better Stock?Amgen Shares Leap Higher On Upbeat Outlook For Obesity TreatmentThree Dividend Growers the Institutions Are Buying 

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