Insteel Industries Inc Stock Research

Market Summary

USD30.09+0.61

Market Closed

2.07%

IIIN Stock Price

IIIN RSI Chart

IIIN Valuation

Market Cap

586.1M

Price/Earnings (Trailing)

4.69

Price/Sales (Trailing)

0.71

EV/EBITDA

3.05

Price/Free Cashflow

103.37

IIIN Price/Sales (Trailing)

IIIN Profitability

EBT Margin

19.56%

Return on Equity

32.08%

Return on Assets

26.5%

Free Cashflow Yield

0.97%

IIIN Fundamentals

IIIN Revenue

Revenue (TTM)

826.8M

Revenue Y/Y

21.45%

Revenue Q/Q

-8.44%

IIIN Earnings

Earnings (TTM)

125.0M

Earnings Y/Y

-3.36%

Earnings Q/Q

-36.96%

Price Action

52 Week Range

24.0047.70

(Low)(High)

Last 7 days

Last 30 days

11.1%

Last 90 days

10.8%

Trailing 12 Months

-18.8%

IIIN Financial Health

Current Ratio

5.36

IIIN Investor Care

Dividend Yield

7.05%

Dividend/Share (TTM)

2.12

Shares Dilution (1Y)

0.36%

Diluted EPS (TTM)

6.37

Peers (Alternatives to Insteel Industries)

View All Peers In Detail

Name	Mkt Capsorted ascending	Revenue	Price %, 1M	Returns, 1Y	P/E	P/S	Rev 1-Yr	Inc 1-Yr
LARGE-CAP
TT	41.1B	15.5B	5.77%	5.08%	24.97	2.65	12.66%	21.13%
CARR	36.6B	20.4B	6.49%	-4.21%	10.07	1.79	1.87%	61.47%
MID-CAP
AOS	8.9B	3.8B	6.32%	-18.93%	18.33	2.52	12.89%	5.97%
OC	8.9B	9.6B	8.59%	7.95%	6.6	0.92	15.86%	34.40%
LII	8.8B	4.6B	4.49%	-7.76%	18.14	1.92	10.76%	-1.20%
FBHS	7.9B	8.0B	-5.00%	-39.38%	10.49	0.98	9.41%	-1.09%
WMS	7.0B	3.2B	18.61%	-8.06%	15.25	2.19	38.44%	104.18%
TREX	5.6B	1.2B	25.34%	-40.32%	28.14	4.61	8.62%	-12.08%
AWI	3.5B	1.3B	11.64%	-18.77%	17.85	2.68	10.95%	19.44%
SMALL-CAP
CSWI	2.0B	700.7M	13.59%	16.94%	24.46	2.84	29.73%	59.97%
ROCK	1.8B	1.4B	14.79%	-2.52%	19.85	1.24	11.02%	53.18%
PGTI	1.2B	1.5B	18.71%	12.49%	12	0.86	34.94%	289.47%
NX	810.3M	1.2B	4.49%	14.78%	9.17	0.66	13.93%	55.03%
IIIN	586.1M	826.8M	11.07%	-18.85%	4.69	0.71	40.00%	87.68%
AFI	7.6M	-	-78.97%	-94.34%	-0.14	0.01	-	-

Financials for Insteel Industries

Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Revenue	4.6%	827	790	724	649	591
Gross Profit	-0.1%	197	197	171	144	122
S&GA Expenses	2.9%	36	35	33	36	32
EBITDA	-0.6%	176	177	151	120	-
EBITDA Margin	-5.1%	0.21*	0.22*	0.21*	0.19*	-
Earnings Before Taxes	-0.6%	162	163	136	106	86
EBT Margin	-5.0%	0.20*	0.21*	0.19*	0.16*	-
Interest Expenses	0%	0	0	0	0	0
Net Income	-0.7%	125	126	106	82	67
Net Income Margin	-5.1%	0.15*	0.16*	0.15*	0.13*	-
Free Cahsflow	-71.0%	6	20	61	70	-

* denotes actual numbers (not divided by Millions)

Balance Sheet					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Assets	-1.9%	472	481	421	369	391
Current Assets	-2.4%	335	344	283	227	247
Cash Equivalents	-23.4%	48	63	70	63	90
Inventory	2.7%	198	192	127	82	79
Net PPE	-0.1%	108	108	107	103	106
Goodwill	0%	10	10	10	10	10
Current Liabilities	-34.1%	63	95	74	63	69
Shareholder's Equity	6.8%	390	365	325	286	302
Retained Earnings	8.5%	289	267	229	190	206
Additional Paid-In Capital	0.8%	82	81	80	79	79
Shares Outstanding	-0.3%	19	20	19	19	19

* denotes actual numbers (not divided by Millions)

Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2022Q3	2022Q2	2022Q1	2021Q4	2021Q3
Cashflow From Operations	-71.0%	6	20	61	70	70
Share Based Compensation	10.0%	2	2	2	2	2
Cashflow From Investing	9.3%	-6.04	-6.66	-8.97	-15.86	-17.80
Cashflow From Financing	-3.9%	-41.20	-39.65	-40.95	-40.86	-30.88
Dividend Payments	0.0%	41	41	41	41	31
Buy Backs	Infinity%	1	0	-	-	-

* denotes actual numbers (not divided by Millions)

Risks for IIIN

What is the probability of a big loss on IIIN?

93.8%

Probability that Insteel Industries stock will be more than 20% underwater in next one year

55.8%

Probability that Insteel Industries stock will be more than 30% underwater in next one year.

43.5%

Probability that Insteel Industries stock will be more than 40% underwater in next one year.

*Calculated based on probability distribution of losses observed in actual data in the last 5 years.

How does IIIN drawdown profile look like?

Y-axis is the maximum loss one would have experienced if Insteel Industries was unfortunately bought at previous high price.

Drawdowns

Returns for IIIN

Cumulative Returns on IIIN

10.6%

10-Year Cumulative Returns

6.0%

7-Year Cumulative Returns

0.6%

5-Year Cumulative Returns

13.0%

3-Year Cumulative Returns

What are the long-term rolling returns for IIIN?

FIve years rolling returns for Insteel Industries.

Annualized Returns

Which funds bought or sold IIIN recently?

View All Details

Datesorted ascending	Fund Name	Type	% Chg	$ Change	$ Held	% Portfolio
2023-01-26	OREGON PUBLIC EMPLOYEES RETIREMENT FUND	added	1.12	8,137	178,137	-%
2023-01-26	COMERICA BANK	reduced	-22.99	-27,000	356,000	-%
2023-01-26	State of Tennessee, Treasury Department	reduced	-67.07	-582,000	204,000	-%
2023-01-26	Barnett & Company, Inc.	added	2.24	54,184	941,184	0.72%
2023-01-25	Bridge City Capital, LLC	reduced	-0.68	53,000	1,790,000	0.92%
2023-01-25	FIFTH THIRD BANCORP	new	-	1,569	1,569	-%
2023-01-25	Versant Capital Management, Inc	unchanged	-	358	358	-%
2023-01-25	Lindbrook Capital, LLC	sold off	-100	-1,000	-	-%
2023-01-24	TOTH FINANCIAL ADVISORY CORP	unchanged	-	-248	2,752	-%
2023-01-24	Louisiana State Employees Retirement System	unchanged	-	9,000	256,000	0.01%

Latest Funds Activity

Are funds buying IIIN calls or puts?

Calls

Puts

Are funds bullish or bearish(Calls - Puts)?

Net Call Options

No. of funds that own IIIN

No. of Funds

Insteel Industries News

Schedule 13G FIlings of Insteel Industries

Date Filed	Name of Filer	Percent of Class	No. of Shares	Form Type
Jan 26, 2023	blackrock inc.	17.7%	3,448,632	SC 13G/A
Jan 23, 2023	royce & associates lp	5.11%	994,903	SC 13G/A
Jan 20, 2023	blackrock inc.	17.7%	3,448,632	SC 13G/A
Feb 14, 2022	price t rowe associates inc /md/	6.9%	1,357,064	SC 13G/A
Feb 10, 2022	vanguard group inc	6.69%	1,298,304	SC 13G/A
Feb 08, 2022	dimensional fund advisors lp	5.4%	1,050,314	SC 13G/A
Feb 02, 2022	franklin mutual advisers llc	1.4%	269,388	SC 13G/A
Jan 27, 2022	blackrock inc.	16.1%	3,130,572	SC 13G/A
Jan 25, 2022	blackrock inc.	16.1%	3,130,572	SC 13G/A
Feb 16, 2021	price t rowe associates inc /md/	6.9%	1,341,037	SC 13G/A

IIIN Fair Value

Insteel Industries fair value in different scenarios

The table shows the Fair Value estimates for Insteel Industries for various scenarios. Disclaimer: These are just estimations from a model. None of the models are good at predicting the future. Please dont buy or sell stocks based on these outputs.

Fair Value	Very Pessimistic	Pessimistic	Base Case	Optimistic	Very Optimistic
Very Low Inflation	51.15 69.99%	72.09 139.58%	112.07 272.45%	152.67 407.38%	216.13 618.28%
Current Inflation	48.19 60.15%	65.79 118.64%	99.95 232.17%	134.82 348.06%	188.73 527.22%
Very High Inflation	44.38 47.49%	58.08 93.02%	85.58 184.41%	113.85 278.36%	156.89 421.40%

Fair Value

Very Pessimistic

Pessimistic

Base Case

Optimistic

Very Optimistic

Very Low Inflation

51.15

69.99%

72.09

139.58%

112.07

272.45%

152.67

407.38%

216.13

618.28%

Current Inflation

48.19

60.15%

65.79

118.64%

99.95

232.17%

134.82

348.06%

188.73

527.22%

Very High Inflation

44.38

47.49%

58.08

93.02%

85.58

184.41%

113.85

278.36%

156.89

421.40%

Historical Insteel Industries Fair Value Estimates

Very Pessimistic Case

Pessimistic Case

Fair Value

Optimistic Case

Very Optimistic Case

Closing Stock Price

Recent SEC filings of Insteel Industries

View All Filings

Date Filed	Form Type	Document
Jan 26, 2023	SC 13G/A	Major Ownership Report
Jan 23, 2023	SC 13G/A	Major Ownership Report
Jan 20, 2023	8-K	Current Report
Jan 20, 2023	SC 13G/A	Major Ownership Report
Jan 19, 2023	10-Q	Quarterly Report
Jan 03, 2023	4	Insider Trading
Jan 03, 2023	DEF 14A	DEF 14A
Dec 07, 2022	4	Insider Trading
Dec 02, 2022	8-K	Current Report
Nov 16, 2022	8-K	Current Report

Latest Insider Trading transactions for IIIN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2022-12-23	Ruth Jon M	acquired	10,380.9	27.43	378.45	-
2022-12-05	Carano Mark A	acquired	93,500.9	19.86	4,708	senior vice president and cfo
2022-08-15	WOLTZ H O III	acquired	-	-	5,340	chairman, president and ceo
2022-08-15	PETELLE JAMES F	acquired	-	-	1,144	vice president, sec. and clo
2022-08-15	Jafroodi Scot R	acquired	-	-	1,144	vp and chief acct. officer
2022-08-15	York James R.	acquired	-	-	1,144	senior vice president
2022-08-15	Carano Mark A	acquired	-	-	1,907	senior vice president and cfo
2022-08-15	Wagner Richard	acquired	-	-	2,098	senior vice president & coo
2022-08-12	Wagner Richard	sold (taxes)	-49,395.7	32.54	-1,518	senior vice president & coo
2022-08-12	PETELLE JAMES F	sold (taxes)	-18,092.2	32.54	-556	vice president, sec. and clo

About Insteel Industries

Howard O. Woltz

www.insteel.com

910

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. The company's WWR engineered reinforcing product is used in nonresidential and residential construction. It produces a range of WWR products, such as engineered structural mesh, an engineered made-to-order product that is used as the primary reinforcement for concrete elements or structures serving as a reinforcing solution for hot-rolled rebar; concrete pipe reinforcement, an engineered made-to-order product, which is used as the primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems, water treatment facilities, and other related applications; and standard welded wire reinforcement, a secondary reinforcing product for crack control applications in residential and light nonresidential construction, including driveways, sidewalks, and various slab-on-grade applications. The company sells its products through sales representatives to the manufacturers of concrete products, rebar fabricators, distributors, and contractors primarily in the United States, Canada, Mexico, and Central and South America. Insteel Industries, Inc. was founded in 1953 and is headquartered in Mount Airy, North Carolina.

IIIN Income Statement

2022-12-31

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Dec. 31, 2022	Jan. 01, 2022
Net sales	$ 166,899	$ 178,459
Cost of sales	149,113	136,095
Gross profit	17,786	42,364
Selling, general and administrative expense	7,126	12,281
Restructuring charges, net	0	47
Other income, net	(3,342)	(5)
Interest expense	24	22
Interest income	(440)	(14)
Earnings before income taxes	14,418	30,033
Income taxes	3,295	6,904
Net earnings	$ 11,123	$ 23,129
Net earnings per share:
Basic (in dollars per share)	$ 0.57	$ 1.19
Diluted (in dollars per share)	$ 0.57	$ 1.18
Weighted average shares outstanding:
Basic (in shares)	19,525	19,411
Diluted (in shares)	19,584	19,636
Cash dividends declared per share (in dollars per share)	$ 2.03	$ 2.03
Comprehensive income	$ 11,123	$ 23,129

IIIN Balance Sheet

2022-12-31

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Dec. 31, 2022	Oct. 01, 2022
Assets
Cash and cash equivalents	$ 42,638	$ 48,316
Accounts receivable, net	68,789	81,646
Inventories	171,185	197,654
Other current assets	5,599	7,716
Total current assets	288,211	335,332
Property, plant and equipment, net	107,178	108,156
Intangibles, net	6,653	6,847
Goodwill	9,745	9,745
Other assets	11,969	11,665
Total assets	423,756	471,745
Liabilities and shareholders' equity
Accounts payable	30,801	46,796
Accrued expenses	14,112	15,800
Total current liabilities	44,913	62,596
Other liabilities	18,169	19,405
Commitments and contingencies
Shareholders' equity:
Common stock	19,451	19,478
Additional paid-in capital	82,082	81,997
Retained earnings	260,118	289,246
Accumulated other comprehensive loss	(977)	(977)
Total shareholders' equity	360,674	389,744
Total liabilities and shareholders' equity	$ 423,756	$ 471,745