Insteel Industries (NYSE:IIIN) Stock Price Down 2.2% – Time to Sell?

Shares of Insteel Industries, Inc. (NYSE:IIIN) dropped 2.2% during mid-day trading on Tuesday . The company traded as low as $34.57 and last traded at $35.75. Approximately 76,269 shares were traded during trading, a decline of 32% from the average daily volume of 112,403 shares. The stock had previously closed at $36.56.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Insteel Industries from a “buy” rating to a “hold” rating in a report on Saturday, January 17th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, Insteel Industries currently has an average rating of “Hold”.

Insteel Industries Stock Performance

The company has a market cap of $693.55 million, a price-to-earnings ratio of 14.71, a P/E/G ratio of 1.00 and a beta of 0.79. The firm has a fifty day moving average price of $34.62 and a 200 day moving average price of $34.62.

Insteel Industries (NYSE:IIIN) last announced its quarterly earnings results on Thursday, January 15th. The company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.33 by $0.06. The firm had revenue of $159.92 million during the quarter. Insteel Industries had a net margin of 7.01% and a return on equity of 13.51%.

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.