Insteel Industries Inc Stock Research

Market Summary

USD31.45+1.73

Market Closed

5.82%

IIIN Alerts

Big fall in Revenue (Y/Y)
Big fall in earnings (Y/Y)

IIIN Stock Price

IIIN RSI Chart

IIIN Valuation

Market Cap

613.4M

Price/Earnings (Trailing)

7.76

Price/Sales (Trailing)

0.81

EV/EBITDA

4.59

Price/Free Cashflow

9.41

IIIN Price/Sales (Trailing)

IIIN Profitability

EBT Margin

17.92%

Return on Equity

31.33%

Return on Assets

26.67%

Free Cashflow Yield

10.63%

IIIN Fundamentals

IIIN Revenue

Revenue (TTM)

761.1M

Revenue Y/Y

-25.4%

Revenue Q/Q

-4.7%

IIIN Earnings

Earnings (TTM)

79.1M

Earnings Y/Y

-86.93%

Earnings Q/Q

-54.14%

Price Action

52 Week Range

24.0043.96

(Low)(High)

Last 7 days

-4.0%

Last 30 days

6.9%

Last 90 days

-3.2%

Trailing 12 Months

-30.1%

IIIN Financial Health

Current Ratio

6.42

IIIN Investor Care

Dividend Yield

6.74%

Dividend/Share (TTM)

2.12

Shares Dilution (1Y)

0.06%

Diluted EPS (TTM)

4.03

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	40.9B	16.3B	-12.01%	22.29%	23.3	2.56	12.63%	24.25%
CARR	36.3B	21.0B	-0.32%	7.47%	14.04	1.72	2.29%	-4.15%
MID-CAP
LII	10.6B	4.8B	0.49%	37.56%	20.7	2.23	11.16%	10.36%
OC	10.4B	9.7B	3.04%	15.65%	7.85	1.06	9.15%	21.21%
FBHS	7.7B	4.6B	-5.00%	-39.38%	11.25	1.64	-4.85%	-23.87%
WMS	7.3B	3.1B	16.86%	-11.83%	14.31	2.36	10.90%	86.89%
TREX	6.1B	1.0B	-2.24%	-14.41%	39.35	6.05	-22.09%	-33.21%
AWI	2.9B	1.3B	-7.29%	-24.38%	14.22	2.32	10.85%	7.08%
CSWI	2.4B	735.5M	7.76%	34.33%	27.06	3.23	25.40%	50.53%
SMALL-CAP
ROCK	1.9B	1.4B	6.33%	26.86%	21.96	1.42	-0.34%	12.42%
PGTI	1.6B	1.5B	-0.47%	25.66%	14.61	1.04	20.90%	154.82%
NX	864.9M	1.2B	8.77%	4.10%	10.95	0.71	9.68%	30.88%
IIIN	613.4M	761.1M	6.91%	-30.15%	7.76	0.81	5.17%	-25.17%

Financials for Insteel Industries

* denotes actual numbers (not divided by Millions)
Income Statement (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Revenue	-6.6%	761	815	827	790	724
Gross Profit	-25.4%	129	173	197	197	171
S&GA Expenses	1.0%	31.00	31.00	36.00	35.00	33.00
EBITDA	-9.1%	160	176	177	151	-
EBITDA Margin	-7.8%	0.20*	0.21*	0.22*	0.21*	-
Earnings Before Taxes	-29.9%	102	146	162	163	136
EBT Margin	-8.4%	0.18*	0.20*	0.21*	0.19*	-
Interest Expenses	0%	0.00	0.00	0.00	0.00	0.00
Net Income	-30.0%	79.00	113	125	126	106
Net Income Margin	-8.3%	0.14*	0.15*	0.16*	0.15*	-
Free Cahsflow	341.7%	25.00	6.00	20.00	61.00	-

Balance Sheet					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Assets	1.1%	428	424	472	481	421
Current Assets	-0.1%	288	288	335	344	283
Cash Equivalents	88.0%	80.00	43.00	48.00	63.00	70.00
Inventory	-20.3%	136	171	198	192	127
Net PPE	4.4%	112	107	108	108	107
Goodwill	0%	10.00	10.00	10.00	10.00	10.00
Current Liabilities	0.4%	45.00	45.00	63.00	95.00	74.00
Shareholder's Equity	1.2%	365	361	390	365	325
Retained Earnings	1.4%	264	260	289	267	229
Additional Paid-In Capital	0.8%	83.00	82.00	82.00	81.00	80.00
Shares Outstanding	-0.1%	20.00	20.00	19.00	20.00	19.00

* denotes actual numbers (not divided by Millions)
Cashflow (Last 12 Months)					(In Millions)
Description	(%) Q/Q	2023Q1	2022Q4	2022Q3	2022Q2	2022Q1
Cashflow From Operations	160.2%	65.00	25.00	6.00	20.00	61.00
Share Based Compensation	6.7%	2.00	2.00	2.00	2.00	2.00
Cashflow From Investing	-243.5%	-11.42	-3.32	-6.04	-6.66	-8.97
Cashflow From Financing	-2.9%	-43.33	-42.10	-41.20	-39.65	-40.95
Dividend Payments	0.0%	41.00	41.00	41.00	41.00	41.00
Buy Backs	110.2%	4.00	2.00	1.00	0.00	-

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

59.2%

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

50%

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

7.9%

10-Year Cumulative Returns

4.0%

7-Year Cumulative Returns

1.2%

5-Year Cumulative Returns

23.7%

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
2023-05-25	Legato Capital Management LLC	unchanged	-	6,810	631,597	0.12%
2023-05-25	Brandywine Global Investment Management, LLC	sold off	-100	-1,408,140	-	-%
2023-05-23	ROYCE & ASSOCIATES LP	added	0.46	424,495	27,804,200	0.28%
2023-05-22	AMERIPRISE FINANCIAL INC	reduced	-14.98	-486,385	2,967,620	-%
2023-05-18	NEW YORK STATE COMMON RETIREMENT FUND	reduced	-22.56	-336,000	1,209,000	-%
2023-05-18	JPMORGAN CHASE & CO	added	7.46	274,000	3,459,000	-%
2023-05-17	Thrivent Financial for Lutherans	reduced	-3.52	-14,000	536,000	-%
2023-05-17	B. Riley Wealth Advisors, Inc.	reduced	-80.13	-1,541,070	387,254	0.01%
2023-05-17	VIRGINIA RETIREMENT SYSTEMS ET AL	added	0.38	28,591	721,024	0.01%
2023-05-16	Rockefeller Capital Management L.P.	sold off	-100	-	-	-%

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
Feb 14, 2023	price t rowe associates inc /md/	0.4%	79,640	SC 13G/A
Feb 09, 2023	vanguard group inc	6.83%	1,330,467	SC 13G/A
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

IIIN Fair Value

Show Fair-Value

Recent SEC filings of Insteel Industries

View All Filings

Date Filed	Form Type	Document
May 17, 2023	8-K	Current Report
Apr 21, 2023	8-K	Current Report
Apr 20, 2023	10-Q	Quarterly Report
Mar 29, 2023	8-K	Current Report
Mar 17, 2023	8-K	Current Report

Latest Insider Trading transactions for IIIN

Filter Transactions

Datesorted ascending	Name	Buy/Sell	$ Value	Avg. Price	# Shares	Title
2023-02-16	THOMPSON G KENNEDY	acquired	-	-	2,478	-
2023-02-14	York James R.	acquired	-	-	1,239	senior vice president
2023-02-14	RUTKOWSKI JOSEPH A	acquired	-	-	2,478	-
2023-02-14	WOLTZ H O III	acquired	-	-	5,781	chairman, president and ceo
2023-02-14	PETELLE JAMES F	acquired	-	-	1,239	vice president, sec. and clo
2023-02-14	Jafroodi Scot R	acquired	-	-	2,065	vp and chief acct. officer
2023-02-14	LLOYD ANNE H	acquired	-	-	2,478	-
2023-02-14	Wagner Richard	acquired	-	-	2,271	senior vice president & coo
2023-02-14	BOXLEY ABNEY S III	acquired	-	-	2,478	-
2023-02-14	ROGERS W ALLEN II	acquired	-	-	2,478	-

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

2023-04-01

Consolidated Statements of Operations and Comprehensive Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Apr. 01, 2023	Apr. 02, 2022	Apr. 01, 2023	Apr. 02, 2022
Net sales	$ 159,051	$ 213,209	$ 325,950	$ 391,668
Cost of sales	145,789	156,140	294,902	292,235
Gross profit	13,262	57,069	31,048	99,433
Selling, general and administrative expense	7,506	7,202	14,632	19,483
Restructuring recoveries, net	0	(365)	0	(318)
Other income, net	(57)	(11)	(3,399)	(16)
Interest expense	23	23	47	45
Interest income	(747)	(10)	(1,187)	(24)
Earnings before income taxes	6,537	50,230	20,955	80,263
Income taxes	1,436	11,213	4,731	18,117
Net earnings	$ 5,101	$ 39,017	$ 16,224	$ 62,146
Net earnings per share:
Basic (in dollars per share)	$ 0.26	$ 2.00	$ 0.83	$ 3.19
Diluted (in dollars per share)	$ 0.26	$ 1.99	$ 0.83	$ 3.17
Weighted average shares outstanding:
Basic (in shares)	19,503	19,492	19,514	19,487
Diluted (in shares)	19,562	19,623	19,573	19,615
Cash dividends declared per share (in dollars per share)	$ 0.03	$ 0.03	$ 2.06	$ 2.06
Comprehensive income	$ 5,101	$ 39,017	$ 16,224	$ 62,146

IIIN Balance Sheet

2023-04-01

Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Apr. 01, 2023	Oct. 01, 2022
Assets
Cash and cash equivalents	$ 80,156	$ 48,316
Accounts receivable, net	65,874	81,646
Inventories	136,492	197,654
Other current assets	5,357	7,716
Total current assets	287,879	335,332
Property, plant and equipment, net	111,946	108,156
Intangibles, net	6,465	6,847
Goodwill	9,745	9,745
Other assets	12,189	11,665
Total assets	428,224	471,745
Liabilities and shareholders' equity
Accounts payable	36,936	46,796
Accrued expenses	8,153	15,800
Total current liabilities	45,089	62,596
Other liabilities	18,157	19,405
Commitments and Contingencies
Shareholders' equity:
Common stock	19,441	19,478
Additional paid-in capital	82,708	81,997
Retained earnings	263,806	289,246
Accumulated other comprehensive loss	(977)	(977)
Total shareholders' equity	364,978	389,744
Total liabilities and shareholders' equity	$ 428,224	$ 471,745