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Insteel Industries (NASDAQ:IIIN - Get Rating) was upgraded by investment analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Saturday.Insteel Industries Stock Up 3.5 %

IIIN opened at $29.21 on Friday. The firm has a 50 day moving average price of $32.04 and a 200-day moving average price of $36.67. Insteel Industries has a twelve month low of $26.94 and a twelve month high of $47.70. The stock has a market capitalization of $569.77 million, a price-to-earnings ratio of 4.56 and a beta of 1.22. Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the stock. Captrust Financial Advisors raised its holdings in shares of Insteel Industries by 11,437.8% during the second quarter. Captrust Financial Advisors now owns 137,646 shares of the industrial products company's stock valued at $4,635,000 after purchasing an additional 136,453 shares during the last quarter. Legal & General Group Plc increased its holdings in Insteel Industries by 0.8% during the second quarter. Legal & General Group Plc now owns 47,659 shares of the industrial products company's stock valued at $1,605,000 after buying an additional 362 shares during the last quarter. ExodusPoint Capital Management LP purchased a new stake in Insteel Industries during the second quarter valued at approximately $244,000. Walleye Capital LLC purchased a new stake in Insteel Industries during the second quarter valued at approximately $424,000. Finally, Goldman Sachs Group Inc. increased its holdings in Insteel Industries by 112.9% during the second quarter. Goldman Sachs Group Inc. now owns 61,405 shares of the industrial products company's stock valued at $2,068,000 after buying an additional 32,566 shares during the last quarter. 77.66% of the stock is owned by hedge funds and other institutional investors. 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 ArticlesGet a free copy of the StockNews.com research report on Insteel Industries (IIIN)MarketBeat: Week in Review 9/5 – 9/9Prepare For A Record-Setting Quarter For Cyber Security StocksThe Auto Market Is Slowly Recovering, These Stocks May OutperformIs DocuSign On The Verge Of A Major Reversal?Oil and Gas Stocks: A Safe Way to Invest in Renewable Energy

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