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Insteel Industries (NASDAQ:IIIN - Get Rating) was downgraded by equities researchers at StockNews.com from a "strong-buy" rating to a "hold" rating in a report issued on Friday.Insteel Industries Trading Down 7.3 %

Shares of IIIN stock traded down $2.51 on Friday, reaching $31.95. The company had a trading volume of 333,654 shares, compared to its average volume of 123,905. The stock has a market cap of $621.08 million, a PE ratio of 5.93 and a beta of 1.30. The company has a 50-day moving average of $38.05 and a 200-day moving average of $38.84. Insteel Industries has a 12 month low of $31.68 and a 12 month high of $47.70.

Insteel Industries (NASDAQ:IIIN - Get Rating) last announced its quarterly earnings results on Thursday, April 21st. The industrial products company reported $1.99 EPS for the quarter. The company had revenue of $213.21 million during the quarter. Insteel Industries had a return on equity of 35.52% and a net margin of 14.60%. Insider Activity

In other news, VP James F. Petelle sold 2,407 shares of the company's stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $45.84, for a total value of $110,336.88. Following the completion of the sale, the vice president now directly owns 17,078 shares of the company's stock, valued at approximately $782,855.52. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, VP James F. Petelle sold 2,407 shares of the stock in a transaction that occurred on Wednesday, May 4th. The stock was sold at an average price of $45.84, for a total transaction of $110,336.88. Following the completion of the sale, the vice president now directly owns 17,078 shares of the company's stock, valued at approximately $782,855.52. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Richard Wagner sold 10,576 shares of the stock in a transaction that occurred on Wednesday, May 18th. The stock was sold at an average price of $42.58, for a total value of $450,326.08. Following the sale, the chief operating officer now directly owns 36,620 shares of the company's stock, valued at $1,559,279.60. The disclosure for this sale can be found here. Insiders sold a total of 14,571 shares of company stock valued at $631,937 in the last ninety days. 5.20% of the stock is owned by insiders. Institutional Trading of Insteel Industries

A number of large investors have recently bought and sold shares of the business. Baystate Wealth Management LLC increased its stake in Insteel Industries by 60.2% during the 1st quarter. Baystate Wealth Management LLC now owns 1,059 shares of the industrial products company's stock worth $39,000 after purchasing an additional 398 shares in the last quarter. Lazard Asset Management LLC boosted its position in Insteel Industries by 14.8% during the 4th quarter. Lazard Asset Management LLC now owns 3,998 shares of the industrial products company's stock worth $159,000 after acquiring an additional 516 shares during the last quarter. Money Concepts Capital Corp boosted its position in Insteel Industries by 10.2% during the 2nd quarter. Money Concepts Capital Corp now owns 6,407 shares of the industrial products company's stock worth $229,000 after acquiring an additional 591 shares during the last quarter. Carolina Wealth Advisors LLC boosted its position 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 worth $272,000 after acquiring an additional 596 shares during the last quarter. Finally, Rhumbline Advisers boosted its position in Insteel Industries by 1.5% during the 1st quarter. Rhumbline Advisers now owns 53,384 shares of the industrial products company's stock worth $1,975,000 after acquiring an additional 779 shares during the last quarter. 78.59% of the stock is owned by institutional investors. About Insteel Industries (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.Further ReadingGet a free copy of the StockNews.com research report on Insteel Industries (IIIN)MarketBeat: Week in Review 7/18 – 7/22Falling Copper Prices Weigh On Freeport McMoran's Earnings, But Long Term Fundamentals IntactVerizon Shares Drop On Earnings Miss, Lower GuidanceSnap Stock Falters As Growth Slows To Record LowLackluster Results Provide An Opportunity In Tractor Supply Company

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