Rating of The Day: Does InSteel Industries (NASDAQ:IIIN) Look Good? Sidoti Upgrades It

November 23, 2016 - By Hazel Jackson

Rating of The Day:  Does InSteel Industries (NASDAQ:IIIN) Look Good? Sidoti Upgrades It

InSteel Industries (NASDAQ:IIIN) Upgrade

In a a research report issued to clients on Tuesday morning, Sidoti stated it was upgrading InSteel Industries (NASDAQ:IIIN) stock from a Neutral to a Buy.

Insteel Industries Inc (NASDAQ:IIIN) Ratings Coverage

Out of 2 analysts covering InSteel Industries (NASDAQ:IIIN), 1 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 50% are positive. InSteel Industries has been the topic of 2 analyst reports since July 22, 2016 according to StockzIntelligence Inc. The rating was maintained by Rosenblatt on Friday, July 22 with “Neutral”. As per Tuesday, November 22, the company rating was upgraded by Sidoti.

The stock increased 4.31% or $1.48 during the last trading session, hitting $35.82. Insteel Industries Inc (NASDAQ:IIIN) has risen 24.90% since April 21, 2016 and is uptrending. It has outperformed by 19.57% the S&P500.

Insitutional Activity: The institutional sentiment increased to 1.42 in 2016 Q2. Its up 0.39, from 1.03 in 2016Q1. The ratio is positive, as 15 funds sold all Insteel Industries Inc shares owned while 53 reduced positions. 29 funds bought stakes while 41 increased positions. They now own 14.39 million shares or 2.56% more from 14.03 million shares in 2016Q1.

Tiaa Cref Investment Mgmt Limited Liability Company holds 98,523 shares or 0% of its portfolio. Hennessy Inc has 171,300 shares for 0.15% of their US portfolio. Gotham Asset Management Ltd Com accumulated 0.01% or 33,220 shares. Morgan Stanley has 89,229 shares for 0% of their US portfolio. Hillsdale Invest Mgmt Inc accumulated 0.13% or 15,410 shares. Cortina Asset Lc holds 142,502 shares or 0.19% of its portfolio. California State Teachers Retirement Systems last reported 0% of its portfolio in the stock. Schwab Charles Inv Management holds 53,846 shares or 0% of its portfolio. Diam Ltd holds 25,508 shares or 0.01% of its portfolio. Menta Cap Lc holds 0.05% or 13,960 shares in its portfolio. Dimensional Fund Lp has invested 0.02% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN). Bancorporation Of Mellon accumulated 0% or 114,436 shares. Profit Inv Management Ltd Liability Co has 71,479 shares for 1.65% of their US portfolio. Legal General Grp Public Ltd Com holds 0% of its portfolio in Insteel Industries Inc (NASDAQ:IIIN) for 2,907 shares. Creative Planning accumulated 0% or 450 shares.

Insider Transactions: Since May 31, 2016, the stock had 0 insider buys, and 12 sales for $5.40 million net activity. Another trade for 10,345 shares valued at $358,915 was sold by Jafroodi Scot R. GAZMARIAN MICHAEL C sold $316,651 worth of Insteel Industries Inc (NASDAQ:IIIN) on Wednesday, September 7. $149,679 worth of Insteel Industries Inc (NASDAQ:IIIN) was sold by Wagner Richard. Another trade for 20,000 shares valued at $689,360 was sold by WOLTZ H O III. PETELLE JAMES F had sold 11,913 shares worth $413,429 on Thursday, July 28. The insider NEWSOME CHARLES B sold $50,135.

Insteel Industries, Inc. is a manufacturer of steel wire reinforcing products for concrete construction applications. The company has a market cap of $696.75 million. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. It has a 18.35 P/E ratio. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand and welded wire reinforcement (WWR).

According to Zacks Investment Research, “Insteel Industries is one of the nation’s largest manufacturers of steel wire reinforcing products for concrete construction applications. The Company manufactures and markets prestressed concrete strand and welded wire reinforcement, including concrete pipe reinforcement, engineered structural mesh and standard welded wire reinforcement. Insteel’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Headquartered in Mount Airy, North Carolina, Insteel operates six manufacturing facilities located in the United States.”

IIIN Company Profile

Insteel Industries, Inc., incorporated on December 1, 1958, is a maker of steel wire reinforcing products for concrete construction applications. The Company’s activities are focused on the manufacture and marketing of steel wire reinforcing products for concrete construction applications. The Company’s concrete reinforcing products consist of two product lines: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR). The Company’s products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. The Firm sells its products nationwide across the United States, Canada, Mexico, and Central and South America.

More notable recent Insteel Industries Inc (NASDAQ:IIIN) news were published by: Prnewswire.com which released: “Insteel Industries Reports Fourth Quarter and Fiscal 2016 Financial Results” on October 20, 2016, also Prnewswire.com with their article: “Insteel Industries Announces Appointment And Retirement Of Directors” published on March 02, 2016, Streetinsider.com published: “Form 8-K INSTEEL INDUSTRIES INC For: Nov 15” on November 15, 2016. More interesting news about Insteel Industries Inc (NASDAQ:IIIN) were released by: Seekingalpha.com and their article: “Insteel Industries: Rising On The Tide Of Construction Activity” published on February 23, 2016 as well as Seekingalpha.com‘s news article titled: “Insteel Industries Has Never Been In A Better Position” with publication date: February 29, 2016.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.

By

Free Email Newsletter

Enter your email address below to get the latest news and analysts' ratings for your stocks with our FREE daily email newsletter:


Recent Market News

>