Insteel Industries (IIIN)
Market Price (9/8/2026): $31.3 | Market Cap: $608.8 MilSector: Industrials | Industry: Industrial Machinery & Supplies & Components
Insteel Industries (IIIN)
Market Price (9/8/2026): $31.3Market Cap: $608.8 MilSector: IndustrialsIndustry: Industrial Machinery & Supplies & Components
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 3.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3% Low stock price volatilityVol 12M is 43% Megatrend and thematic driversMegatrends include Water Infrastructure, Sustainable Resource Management, and E-commerce Logistics & Data Centers. Themes include Water Treatment & Delivery, Show more. | Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -66% | Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 596x Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% Key risksIIIN key risks include [1] cyclical construction demand for its concrete reinforcing products, Show more. |
| Attractive yieldTotal YieldTotal Yield = Earnings Yield + Dividend Yield, Earnings Yield = Net Income / Market Cap Dividend Yield = Total Dividends / Market Cap is 9.6%, Dividend Yield is 3.6%, ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is 5.3% |
| Low stock price volatilityVol 12M is 43% |
| Megatrend and thematic driversMegatrends include Water Infrastructure, Sustainable Resource Management, and E-commerce Logistics & Data Centers. Themes include Water Treatment & Delivery, Show more. |
| Weak multi-year price returns2Y Excs Rtn is -39%, 3Y Excs Rtn is -66% |
| Expensive valuation multiplesP/CFOPrice/(Cash Flow from Operations). CFO is cash before capital expenditures. is 596x |
| Not cash flow generativeFCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -1.4% |
| Key risksIIIN key risks include [1] cyclical construction demand for its concrete reinforcing products, Show more. |
Qualitative Assessment
AI Analysis | Feedback
Updated on 9/1/2026
Insteel Industries (IIIN) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Insteel Industries reported stronger-than-expected fiscal Q3 2026 results and provided a favorable outlook. The company announced its third-quarter fiscal 2026 results on July 16, 2026, for the period ending June 27, 2026. It reported earnings per share (EPS) of $0.46, surpassing analysts' consensus estimates of $0.41 by 12.20%. Net sales for fiscal Q3 2026 also increased by 9.9% year-over-year to $197.7 million. Management also provided a favorable outlook for the remainder of fiscal 2026.
2. Analysts upgraded the stock due to an attractive valuation and improving earnings prospects. Following the fiscal Q3 2026 earnings report, Insteel Industries was upgraded from a "Hold" to a "Buy" rating by analysts on July 17, 2026. This upgrade was driven by an attractive risk-reward profile and a relative discount compared to its peers. Analysts projected revenue growth for fiscal year 2026, attributed to higher average selling prices and robust demand in non-residential construction, particularly from data center projects.
Show more
Insteel Industries (IIIN) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Insteel Industries reported stronger-than-expected fiscal Q3 2026 results and provided a favorable outlook. The company announced its third-quarter fiscal 2026 results on July 16, 2026, for the period ending June 27, 2026. It reported earnings per share (EPS) of $0.46, surpassing analysts' consensus estimates of $0.41 by 12.20%. Net sales for fiscal Q3 2026 also increased by 9.9% year-over-year to $197.7 million. Management also provided a favorable outlook for the remainder of fiscal 2026.
2. Analysts upgraded the stock due to an attractive valuation and improving earnings prospects. Following the fiscal Q3 2026 earnings report, Insteel Industries was upgraded from a "Hold" to a "Buy" rating by analysts on July 17, 2026. This upgrade was driven by an attractive risk-reward profile and a relative discount compared to its peers. Analysts projected revenue growth for fiscal year 2026, attributed to higher average selling prices and robust demand in non-residential construction, particularly from data center projects.
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Updated on 9/1/2026
Insteel Industries (IIIN) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Insteel Industries reported stronger-than-expected fiscal Q3 2026 results and provided a favorable outlook. The company announced its third-quarter fiscal 2026 results on July 16, 2026, for the period ending June 27, 2026. It reported earnings per share (EPS) of $0.46, surpassing analysts' consensus estimates of $0.41 by 12.20%. Net sales for fiscal Q3 2026 also increased by 9.9% year-over-year to $197.7 million. Management also provided a favorable outlook for the remainder of fiscal 2026.
2. Analysts upgraded the stock due to an attractive valuation and improving earnings prospects. Following the fiscal Q3 2026 earnings report, Insteel Industries was upgraded from a "Hold" to a "Buy" rating by analysts on July 17, 2026. This upgrade was driven by an attractive risk-reward profile and a relative discount compared to its peers. Analysts projected revenue growth for fiscal year 2026, attributed to higher average selling prices and robust demand in non-residential construction, particularly from data center projects.
3. Strategic operational adjustments, including a facility closure, aim to enhance efficiency and cost competitiveness. On August 21, 2026, Insteel Industries announced the closure of its Upper Sandusky, Ohio facility by the end of October 2026. This strategic move is intended to consolidate welded wire manufacturing operations, align capacity with customer demand, improve operational efficiency, and strengthen cost competitiveness, without impacting revenue. The company expects to incur approximately $4.6 million in restructuring charges related to this closure.
4. Sustained demand in key non-residential construction sectors provides a solid market backdrop. The overall U.S. construction market in Q3 2026, while showing a slight decline of just over 1% in total spending, experienced a significant shift with specific sectors driving growth. Insteel, with approximately 85% of its net sales tied to non-residential construction, benefited from strong demand in areas such as AI data centers, semiconductor facilities, and public infrastructure projects. These segments are projected to be major contributors to construction activity in the second half of 2026.
Show less
Insteel Industries (IIIN) stock has gained about 15% since 5/31/2026 because of the following key factors:
1. Insteel Industries reported stronger-than-expected fiscal Q3 2026 results and provided a favorable outlook. The company announced its third-quarter fiscal 2026 results on July 16, 2026, for the period ending June 27, 2026. It reported earnings per share (EPS) of $0.46, surpassing analysts' consensus estimates of $0.41 by 12.20%. Net sales for fiscal Q3 2026 also increased by 9.9% year-over-year to $197.7 million. Management also provided a favorable outlook for the remainder of fiscal 2026.
2. Analysts upgraded the stock due to an attractive valuation and improving earnings prospects. Following the fiscal Q3 2026 earnings report, Insteel Industries was upgraded from a "Hold" to a "Buy" rating by analysts on July 17, 2026. This upgrade was driven by an attractive risk-reward profile and a relative discount compared to its peers. Analysts projected revenue growth for fiscal year 2026, attributed to higher average selling prices and robust demand in non-residential construction, particularly from data center projects.
3. Strategic operational adjustments, including a facility closure, aim to enhance efficiency and cost competitiveness. On August 21, 2026, Insteel Industries announced the closure of its Upper Sandusky, Ohio facility by the end of October 2026. This strategic move is intended to consolidate welded wire manufacturing operations, align capacity with customer demand, improve operational efficiency, and strengthen cost competitiveness, without impacting revenue. The company expects to incur approximately $4.6 million in restructuring charges related to this closure.
4. Sustained demand in key non-residential construction sectors provides a solid market backdrop. The overall U.S. construction market in Q3 2026, while showing a slight decline of just over 1% in total spending, experienced a significant shift with specific sectors driving growth. Insteel, with approximately 85% of its net sales tied to non-residential construction, benefited from strong demand in areas such as AI data centers, semiconductor facilities, and public infrastructure projects. These segments are projected to be major contributors to construction activity in the second half of 2026.
Show less
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Stock Movement Drivers
Fundamental Drivers
The 13.8% change in IIIN stock from 5/31/2026 to 9/7/2026 was primarily driven by a 32.8% change in the company's P/E Multiple.| (LTM values as of) | 5312026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 27.46 | 31.26 | 13.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 690 | 708 | 2.6% |
| Net Income Margin (%) | 6.2% | 5.1% | -16.6% |
| P/E Multiple | 12.6 | 16.7 | 32.8% |
| Shares Outstanding (Mil) | 19 | 19 | 0.2% |
| Cumulative Contribution | 13.8% |
Market Drivers
5/31/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| IIIN | 13.8% | |
| Market (SPY) | 1.8% | 42.0% |
| Sector (XLI) | 1.2% | 67.3% |
Fundamental Drivers
The -16.0% change in IIIN stock from 2/28/2026 to 9/7/2026 was primarily driven by a -26.7% change in the company's Net Income Margin (%).| (LTM values as of) | 2282026 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.21 | 31.26 | -16.0% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 678 | 708 | 4.4% |
| Net Income Margin (%) | 7.0% | 5.1% | -26.7% |
| P/E Multiple | 15.2 | 16.7 | 9.7% |
| Shares Outstanding (Mil) | 19 | 19 | 0.1% |
| Cumulative Contribution | -16.0% |
Market Drivers
2/28/2026 to 9/7/2026| Return | Correlation | |
|---|---|---|
| IIIN | -16.0% | |
| Market (SPY) | 12.6% | 32.5% |
| Sector (XLI) | -0.8% | 47.0% |
Fundamental Drivers
The -15.6% change in IIIN stock from 8/31/2025 to 9/7/2026 was primarily driven by a -27.8% change in the company's P/E Multiple.| (LTM values as of) | 8312025 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 37.03 | 31.26 | -15.6% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 605 | 708 | 17.1% |
| Net Income Margin (%) | 5.2% | 5.1% | -0.2% |
| P/E Multiple | 23.2 | 16.7 | -27.8% |
| Shares Outstanding (Mil) | 19 | 19 | 0.1% |
| Cumulative Contribution | -15.6% |
Market Drivers
8/31/2025 to 9/7/2026| Return | Correlation | |
|---|---|---|
| IIIN | -15.6% | |
| Market (SPY) | 20.4% | 30.1% |
| Sector (XLI) | 16.5% | 42.9% |
Fundamental Drivers
The 4.3% change in IIIN stock from 8/31/2023 to 9/7/2026 was primarily driven by a 46.3% change in the company's P/E Multiple.| (LTM values as of) | 8312023 | 9072026 | Change |
|---|---|---|---|
| Stock Price ($) | 29.96 | 31.26 | 4.3% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 700 | 708 | 1.1% |
| Net Income Margin (%) | 7.3% | 5.1% | -29.6% |
| P/E Multiple | 11.4 | 16.7 | 46.3% |
| Shares Outstanding (Mil) | 19 | 19 | 0.2% |
| Cumulative Contribution | 4.3% |
Market Drivers
8/31/2023 to 9/7/2026| Return | Correlation | |
|---|---|---|
| IIIN | 4.3% | |
| Market (SPY) | 77.1% | 38.2% |
| Sector (XLI) | 68.7% | 50.8% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| IIIN Return | 88% | -26% | 50% | -27% | 22% | -2% | 84% |
| Peers Return | -1% | -19% | 64% | 66% | 21% | -5% | 151% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 13% | 106% |
Monthly Win Rates [3] | |||||||
| IIIN Win Rate | 58% | 25% | 58% | 50% | 58% | 67% | |
| Peers Win Rate | 50% | 42% | 67% | 54% | 58% | 36% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 56% | |
Max Drawdowns [4] | |||||||
| IIIN Max Drawdown | -26% | -47% | -24% | -30% | -24% | -36% | |
| Peers Max Drawdown | -22% | -40% | -22% | -20% | -31% | -28% | |
| S&P 500 Max Drawdown | -5% | -25% | -10% | -8% | -19% | -9% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GGG, GHM, CEPL, GFUZ, MFP.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 9/4/2026 (YTD)
How Low Can It Go
| Event | IIIN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.0% | -18.8% |
| % Gain to Breakeven | 29.9% | 23.1% |
| Time to Breakeven | 14 days | 79 days |
| Summer-Fall 2023 Five Percent Yield Shock | ||
| % Loss | -15.4% | -9.5% |
| % Gain to Breakeven | 18.2% | 10.5% |
| Time to Breakeven | 18 days | 24 days |
| 2023 SVB Regional Banking Crisis | ||
| % Loss | -11.9% | -6.7% |
| % Gain to Breakeven | 13.6% | 7.1% |
| Time to Breakeven | 39 days | 31 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.8% | -24.5% |
| % Gain to Breakeven | 58.2% | 32.4% |
| Time to Breakeven | 414 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.9% | -33.7% |
| % Gain to Breakeven | 103.5% | 50.9% |
| Time to Breakeven | 230 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.3% | -19.2% |
| % Gain to Breakeven | 54.7% | 23.8% |
| Time to Breakeven | 805 days | 105 days |
In The Past
Insteel Industries's stock fell -23.0% during the 2025 US Tariff Shock. Such a loss loss requires a 29.9% gain to breakeven.
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Asset Allocation
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| Event | IIIN | S&P 500 |
|---|---|---|
| 2025 US Tariff Shock | ||
| % Loss | -23.0% | -18.8% |
| % Gain to Breakeven | 29.9% | 23.1% |
| Time to Breakeven | 14 days | 79 days |
| 2022 Inflation Shock & Fed Tightening | ||
| % Loss | -36.8% | -24.5% |
| % Gain to Breakeven | 58.2% | 32.4% |
| Time to Breakeven | 414 days | 427 days |
| 2020 COVID-19 Crash | ||
| % Loss | -50.9% | -33.7% |
| % Gain to Breakeven | 103.5% | 50.9% |
| Time to Breakeven | 230 days | 140 days |
| Q4 2018 Fed Policy Error / Growth Scare | ||
| % Loss | -35.3% | -19.2% |
| % Gain to Breakeven | 54.7% | 23.8% |
| Time to Breakeven | 805 days | 105 days |
| 2016-2017 Trump Reflation Bond Selloff | ||
| % Loss | -29.8% | -3.7% |
| % Gain to Breakeven | 42.5% | 3.9% |
| Time to Breakeven | 31 days | 6 days |
| 2014-2016 Oil Price Collapse | ||
| % Loss | -36.6% | -6.8% |
| % Gain to Breakeven | 57.6% | 7.3% |
| Time to Breakeven | 52 days | 15 days |
| 2010 Eurozone Sovereign Debt Crisis / Flash Crash | ||
| % Loss | -21.4% | -15.4% |
| % Gain to Breakeven | 27.3% | 18.2% |
| Time to Breakeven | 129 days | 125 days |
| 2008-2009 Global Financial Crisis | ||
| % Loss | -61.4% | -53.4% |
| % Gain to Breakeven | 159.2% | 114.4% |
| Time to Breakeven | 195 days | 1085 days |
In The Past
Insteel Industries's stock fell -23.0% during the 2025 US Tariff Shock. Such a loss loss requires a 29.9% gain to breakeven.
Preserve Wealth
Limiting losses and compounding gains is essential to preserving wealth.
Asset Allocation
Actively managed asset allocation strategies protect wealth. Learn more.
About Insteel Industries (IIIN)
Insteel Industries, Inc. (IIIN) manufactures and markets steel wire reinforcing products essential for various concrete construction applications. The company's core business involves providing critical components that enhance the strength and durability of concrete structures. Its product portfolio primarily consists of two key categories: prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
The company's PC strand is a specialized seven-wire strand used to introduce compression forces into precast concrete elements, providing crucial reinforcement for large-scale projects such as bridges, parking decks, and commercial buildings. Its WWR products are engineered reinforcing solutions, including engineered structural mesh, which serves as a primary reinforcement in concrete elements as an alternative to traditional rebar. Insteel also produces concrete pipe reinforcement for infrastructure like drainage and sewage systems, as well as standard welded wire reinforcement used for crack control in residential and light nonresidential applications, such as driveways, sidewalks, and slab-on-grade construction.
Insteel Industries sells its products through a network of sales representatives. Its primary customers include manufacturers of concrete products, rebar fabricators, distributors, and contractors. While headquartered in Mount Airy, North Carolina, the company serves a broad market, primarily operating in the United States, Canada, Mexico, and parts of Central and South America.
AI Analysis | Feedback
Here are 1-3 brief analogies for Insteel Industries:
- Insteel is like a specialized Nucor, but instead of making raw steel, they fabricate critical steel wire and mesh specifically for reinforcing concrete structures.
- Insteel is like the Owens Corning for concrete, providing the crucial steel reinforcement that makes bridges, buildings, and pipes strong, rather than insulation or roofing.
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- Prestressed Concrete Strand (PC strand): A seven-wire strand used to impart compression forces into precast concrete elements and structures for reinforcement in various construction projects.
- Engineered Structural Mesh: An engineered, made-to-order welded wire mesh product used as primary reinforcement for concrete elements or structures, serving as an alternative to hot-rolled rebar.
- Concrete Pipe Reinforcement: An engineered, made-to-order welded wire product used as primary reinforcement in concrete pipe, box culverts, and precast manholes for drainage and sewage systems.
- Standard Welded Wire Reinforcement: A secondary reinforcing product primarily used for crack control applications in residential and light nonresidential construction, including driveways and sidewalks.
AI Analysis | Feedback
The major customers of Insteel Industries (IIIN) are other companies. Based on the provided description, Insteel sells its products to the following categories of customers:
- Manufacturers of concrete products
- Rebar fabricators
- Distributors
- Contractors
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H. O. Woltz III, Chairman, President and Chief Executive Officer
H. O. Woltz III has served as Insteel's Chairman, President, and Chief Executive Officer for many years, having been with the company and its subsidiaries since 1978. He was elected Chief Executive Officer in 1991, President in 1989, and Chairman of the Board in 2009. Prior to these roles, he served as President of Rappahannock Wire Company, a former subsidiary, from 1981 to 1989, and as President of Florida Wire and Cable, Inc. until its merger into Insteel Wire Products Company in 2002. He led the family-owned company through the process of becoming a publicly traded entity and has been instrumental in its growth and acquisitions, transforming it from a regional company to one with a national scope.
Scot R. Jafroodi, Vice President, Chief Financial Officer and Treasurer
Scot R. Jafroodi currently serves as Insteel's Vice President, Chief Financial Officer and Treasurer, a position he assumed on January 2, 2023. He has held various capacities with the company since 2005, including Vice President, Corporate Controller, and Chief Accounting Officer from October 2020 to 2023. Before joining Insteel, Mr. Jafroodi was a Senior Manager at BDO Seidman, LLP from 2003 to 2005 and spent 10 years at Deloitte & Touche USA, LLP, most recently as a Senior Manager.
Richard T. Wagner, Senior Vice President, Chief Operating Officer
Richard T. Wagner is Insteel's Senior Vice President, Chief Operating Officer, a role he has held since 2020. He has been with Insteel and its subsidiaries since 1992, having previously served as Vice President and General Manager of the Concrete Reinforcing Products Business Unit of Insteel Wire Products Company from 1998 to 2020. Prior to his tenure at Insteel, Mr. Wagner held various positions with Florida Wire and Cable, Inc. from 1977.
James R. York, Senior Vice President, Sourcing and Logistics
James R. York serves as Insteel's Senior Vice President, Sourcing and Logistics. He has been with Insteel Industries, Inc. in various capacities.
Elizabeth C. Southern, Vice President, Administration, Secretary and Chief Legal Officer
Elizabeth C. Southern joined Insteel in 2023 and is currently the Vice President, Administration, Secretary, and Chief Legal Officer. Before joining Insteel, Ms. Southern held various senior management roles with Hanesbrands Inc. from 2011 to 2023, including Deputy General Counsel and Assistant Secretary, and Vice President, Human Resources. Earlier in her career, she worked as an associate attorney at Womble Bond Dickinson (US) LLP.
AI Analysis | Feedback
Insteel Industries (IIIN) faces several key risks inherent to its business, primarily stemming from the cyclical nature of its end markets, fluctuations in raw material costs, and competitive pressures.
The most significant risk to Insteel Industries is the **cyclicality of the construction market and broader economic conditions**. The company's demand for prestressed concrete strand and welded wire reinforcement products is closely tied to non-residential, infrastructure, and, to a lesser extent, residential construction activity. This makes Insteel highly sensitive to economic downturns, changes in interest rates, and government spending on infrastructure projects, all of which can lead to volatility in demand and financial performance.
Another critical risk is the **volatility in raw material costs, particularly due to tariffs on imported steel**. Insteel's profitability is significantly influenced by the cost of wire rod, its primary raw material. U.S. tariff policies on imported steel have directly led to increased raw material costs for Insteel, impacting its cost of goods sold. Additionally, these tariffs can also affect the competitive landscape for finished products.
Finally, Insteel operates within an **intensely competitive market**. The company faces competition from both domestic manufacturers of steel wire reinforcing products and, to a lesser extent, imported finished products. This competitive environment can put pressure on pricing and market share.
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The increasing adoption and technological advancements of fiber-reinforced polymer (FRP) composites as an alternative to steel reinforcement in concrete construction. FRP offers advantages such as corrosion resistance, lighter weight, and improved durability, making it an attractive substitute for steel wire reinforcing products in various applications, particularly those exposed to harsh environments or requiring specific non-magnetic properties. This trend could erode demand for Insteel's traditional steel-based products over time.
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Insteel Industries (symbol: IIIN) operates in addressable markets related to prestressed concrete strand (PC strand) and welded wire reinforcement (WWR).
Prestressed Concrete (PC) Strand Market
- The global prestressed concrete wire and strand market was valued at approximately $6.55 billion in 2025 and is projected to reach $10.88 billion by 2035, exhibiting a compound annual growth rate (CAGR) of 5.21% from 2026 to 2035. Other estimates place the global market at $5.2 billion in 2022, with a projection to reach $9.1 billion by 2032, growing at a CAGR of 5.6% from 2023 to 2032.
- In North America, the PC wire and strand market is a significant segment, with the U.S. market specifically valued at $1.33 billion in 2025. It is expected to grow to $1.99 billion by 2035, at a CAGR of 4.13% over the forecast period of 2026–2035. The U.S. market for PC wire and strand was also valued at $1.2 billion in 2022 and is anticipated to grow at a CAGR of 3.5% from 2023 to 2030. In 2025, North America accounted for an estimated 29% share of the Prestressed Concrete Wire and Strand Market.
Welded Wire Reinforcement (WWR) Market
- The global welded wire reinforcement market is estimated to be valued between $15.5 billion and $25.5 billion in 2025. This market is projected to experience a steady compound annual growth rate ranging from 1.8% to 3.8% through 2030.
- North America represents a mature and significant regional market for welded wire reinforcement, with growth rates estimated at 1.5% to 2.8% annually. North America's estimated share of the global welded wire fabric market is 18%.
AI Analysis | Feedback
Insteel Industries (IIIN) is anticipated to drive future revenue growth over the next two to three years through several key factors:
- Sustained Demand in Non-Residential Construction: The company expects continued strength in non-residential construction, particularly from infrastructure spending and the robust activity in data center development. This segment has been identified as a key demand driver.
- Benefits from Recent Acquisitions: Insteel completed two acquisitions shortly after the close of fiscal 2024, which are projected to enhance its competitive position in the Midwestern and Texas markets and contribute to incremental shipment volumes and solid returns.
- Effective Pricing Actions and Favorable Spreads: The company has demonstrated the ability to implement pricing adjustments to offset rising raw material and operating costs. Maintaining wider spreads between selling prices and raw material costs has positively impacted net sales and gross margins, and is expected to continue supporting revenue growth.
- Anticipated Recovery in Residential Construction: While residential markets have experienced softness, Insteel's management observes early signs of stabilization and a cautiously optimistic long-term outlook for demand. A downward trajectory of interest rates could further support a recovery in this sector.
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Share Repurchases
- From September 28, 2025, to December 27, 2025, Insteel Industries repurchased US$0.74 million worth of shares.
- Repurchases of common stock for the first quarter of fiscal 2026 amounted to $0.745 million.
- Cumulative repurchases under a buyback program initiated in 2008 total US$8.39 million for 280,509 shares.
Capital Expenditures
- Capital outlays for fiscal 2026 are expected to reach up to approximately $20.0 million, primarily focused on cost and productivity improvement initiatives as well as recurring maintenance requirements.
- Capital expenditures for fiscal 2025 decreased to $8.2 million.
- For fiscal 2024, capital expenditures were $19.1 million, with a focus on cost and productivity.
Peer Outperformance in Industrial Machinery & Supplies & Components
IIIN has trailed 63% of its 70 Industrial Machinery & Supplies & Components peers over 5Y. Among the peers that beat it are NPO, PH and GWW. Industrial Machinery & Supplies & Components ranks 7th of 23 industries in Industrials by median 5Y return.
Share of Industrial Machinery & Supplies & Components constituents that IIIN has outperformed, by holding period. Peers without a full price history over a given window are excluded from that window.
1Y
23%
of 75 industry peers · -16.7% return
3Y
26%
of 73 industry peers · 8.0% return
5Y
37%
of 70 industry peers · 15.0% return
Industrial Machinery & Supplies & Components peers with revenue growth within 4pp of IIIN's that beat it on at least 2 of 3 windows, and by at least 20pp over 5Y. Growth is matched by construction, so the gap is largely a re-rating gap. The multiple column is the context for it.
| Ticker | Name | Rev Growth 3Y Avg | P/E | 1Y | 3Y | 5Y | 5Y Gap |
|---|---|---|---|---|---|---|---|
| IIIN | Insteel Industries | 1.8% | 16.7x | -16.7% | 8.0% | 15.0% | — |
| NPO | Enpro | 3.6% | 142.1x | 36.0% | 143.2% | 269.2% | +254pp |
| PH | Parker Hannifin | 4.1% | 33.3x | 28.0% | 142.5% | 257.8% | +243pp |
| GWW | W.W. Grainger | 5.6% | 33.4x | 34.4% | 96.9% | 233.8% | +219pp |
| FLS | Flowserve | 5.4% | 26.3x | 40.6% | 99.7% | 129.5% | +114pp |
| LECO | Lincoln Electric | 4.2% | 27.3x | 14.6% | 59.8% | 119.3% | +104pp |
Price returns, excluding dividends. P/E shown for context only and not used for matching.
Median price return by industry across the Industrials sector, ranked by 5Y. Industrial Machinery & Supplies & Components is IIIN's own industry. Use this to see which corners of the sector have carried the returns.
| Industry | Names | 1Y med | 3Y med | 5Y med | Top 3 by 5Y |
|---|---|---|---|---|---|
| Construction & Engineering | 31 | 20.5% | 106.8% | 187.8% | CDNL 2702% · FIX 2133% · STRL 2063% |
| Marine Transportation | 5 | 70.5% | 67.2% | 170.3% | HOS 48321% · MATX 185% · KEX 170% |
| Construction Machinery & Heavy Transportation Equipment | 13 | 14.3% | 64.7% | 120.0% | CAT 329% · ALSN 280% · WAB 227% |
| Aerospace & Defense | 55 | -1.8% | 61.8% | 77.8% | ATI 1108% · FTAI 980% · HWM 746% |
| Passenger Ground Transportation | 3 | -11.2% | 54.5% | 61.7% | UBER 89% · CAR 62% · LYFT -66% |
| Rail Transportation | 7 | 31.0% | 72.1% | 46.6% | FSTR 140% · CSX 67% · UNP 51% |
| Industrial Machinery & Supplies & Components ← | 71 | 10.1% | 45.1% | 45.7% | CRS 1494% · PSIX 952% · EROC 609% |
| Cargo Ground Transportation | 16 | 38.0% | 9.0% | 39.6% | XPO 271% · R 260% · CVLG 222% |
| Trading Companies & Distributors | 19 | 2.7% | 35.7% | 32.9% | DXPE 552% · AIT 289% · WCC 224% |
| Diversified Support Services | 33 | 12.7% | 30.3% | 29.5% | LIME 4173% · TH 374% · WLFC 366% |
| Electrical Components & Equipment | 41 | 17.6% | 55.5% | 25.4% | POWL 2224% · BE 1132% · VRT 985% |
| Building Products | 33 | -11.0% | 4.7% | 19.8% | LMB 589% · GFF 403% · PPIH 279% |
| Agricultural & Farm Machinery | 17 | 14.1% | 6.0% | -3.9% | BLBD 227% · DE 100% · GENC 57% |
| Research & Consulting Services | 13 | -10.1% | -20.7% | -6.9% | HURN 219% · GRNQ 157% · CRAI 96% |
| Industrial Conglomerates | 17 | 10.5% | 14.2% | -10.9% | RCMT 656% · CSW 142% · CSL 82% |
| Environmental & Facilities Services | 29 | -8.4% | 25.5% | -12.7% | CECO 910% · ADUR 558% · NVRI 362% |
| Data Processing & Outsourced Services | 6 | -31.3% | -12.7% | -25.0% | EXLS 49% · BR 11% · G -23% |
| Passenger Airlines | 11 | 2.4% | 2.6% | -25.4% | LTM 3400% · UAL 145% · SKYW 122% |
| Office Services & Supplies | 9 | 12.0% | 27.2% | -28.6% | PBI 197% · TILE 160% · HNI 63% |
| Human Resource & Employment Services | 22 | 8.4% | -17.7% | -35.3% | BBSI 83% · ADP 51% · KFY 29% |
| Security & Alarm Services | 10 | -36.1% | 7.0% | -37.0% | CIX 135% · MG 103% · NL 52% |
| Air Freight & Logistics | 12 | -8.2% | -20.5% | -37.2% | CHRW 87% · FDX 70% · EXPD 62% |
| Airport Services | 3 | -67.1% | -77.6% | -57.6% | JOBY -28% · ASLE -58% · UP -100% |
Median of constituents with a full price history over each window. Top names are unfiltered by size in this render.
Latest Trefis Analyses
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Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 38.23 |
| Mkt Cap | 1.0 |
| Rev LTM | 708 |
| Op Inc LTM | 47 |
| FCF LTM | 3 |
| FCF 3Y Avg | 34 |
| CFO LTM | 6 |
| CFO 3Y Avg | 47 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 11.2% |
| Rev Chg 3Y Avg | 6.8% |
| Rev Chg Q | 6.6% |
| QoQ Delta Rev Chg LTM | 1.7% |
| Op Inc Chg LTM | 11.6% |
| Op Inc Chg 3Y Avg | 41.8% |
| Op Mgn LTM | 6.6% |
| Op Mgn 3Y Avg | 5.6% |
| QoQ Delta Op Mgn LTM | -0.1% |
| CFO/Rev LTM | 4.3% |
| CFO/Rev 3Y Avg | 8.3% |
| FCF/Rev LTM | 2.8% |
| FCF/Rev 3Y Avg | 6.0% |
Price Behavior
Price Behavior
| Market Price | $31.26 | |
| Market Cap ($ Bil) | 0.6 | |
| First Trading Date | 03/17/1992 | |
| Distance from 52W High | -18.0% | |
| 50 Days | 200 Days | |
| DMA Price | $31.01 | $31.33 |
| DMA Trend | indeterminate | up |
| Distance from DMA | 0.8% | -0.2% |
| 3M | 1YR | |
| Volatility | 31.1% | 43.2% |
| Downside Capture | 65.28 | 110.71 |
| Upside Capture | 104.77 | 65.98 |
| Correlation (SPY) | 42.9% | 29.9% |
IIIN Betas & Captures as of 8/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 2.17 | 1.17 | 0.94 | 1.09 | 1.01 | 0.96 |
| Up Beta | 2.88 | 1.48 | 0.89 | 1.46 | 1.03 | 0.94 |
| Down Beta | 2.81 | 1.49 | 1.21 | 1.26 | 1.32 | 0.74 |
| Up Capture | 123% | 83% | 105% | 45% | 55% | 92% |
| Bmk +ve Days | 10 | 21 | 32 | 68 | 138 | 427 |
| Stock +ve Days | 10 | 21 | 34 | 65 | 133 | 379 |
| Down Capture | 250% | 114% | 67% | 119% | 109% | 105% |
| Bmk -ve Days | 11 | 21 | 32 | 59 | 113 | 324 |
| Stock -ve Days | 11 | 21 | 30 | 62 | 118 | 370 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IIIN | |
|---|---|---|---|---|
| IIIN | -16.8% | 43.0% | -0.30 | - |
| Sector ETF (XLI) | 17.0% | 17.1% | 0.75 | 42.7% |
| Equity (SPY) | 19.7% | 12.8% | 1.13 | 29.9% |
| Gold (GLD) | 24.6% | 29.2% | 0.75 | 5.3% |
| Commodities (DBC) | 43.8% | 20.3% | 1.67 | -16.8% |
| Real Estate (VNQ) | 9.1% | 13.6% | 0.39 | 14.6% |
| Bitcoin (BTCUSD) | -28.1% | 43.8% | -0.63 | 9.1% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IIIN | |
|---|---|---|---|---|
| IIIN | 1.1% | 39.0% | 0.13 | - |
| Sector ETF (XLI) | 12.4% | 17.6% | 0.54 | 53.0% |
| Equity (SPY) | 12.8% | 17.2% | 0.57 | 43.4% |
| Gold (GLD) | 19.1% | 18.8% | 0.82 | 2.3% |
| Commodities (DBC) | 10.7% | 19.5% | 0.43 | 8.2% |
| Real Estate (VNQ) | 1.7% | 18.9% | -0.01 | 39.0% |
| Bitcoin (BTCUSD) | 10.2% | 52.6% | 0.38 | 19.3% |
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Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with IIIN | |
|---|---|---|---|---|
| IIIN | 3.2% | 43.8% | 0.23 | - |
| Sector ETF (XLI) | 13.4% | 20.0% | 0.59 | 53.3% |
| Equity (SPY) | 15.3% | 17.9% | 0.72 | 46.4% |
| Gold (GLD) | 12.4% | 16.3% | 0.62 | 3.1% |
| Commodities (DBC) | 7.9% | 18.1% | 0.35 | 17.3% |
| Real Estate (VNQ) | 4.8% | 20.7% | 0.19 | 40.8% |
| Bitcoin (BTCUSD) | 63.7% | 66.2% | 1.03 | 13.9% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Updated 8/21/2026| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/16/2026 | 1.3% | 7.0% | 10.5% |
| 4/16/2026 | -22.1% | -31.6% | -26.9% |
| 1/15/2026 | -4.5% | 1.1% | 11.5% |
| 10/16/2025 | -19.2% | -17.1% | -14.0% |
| 7/17/2025 | -6.3% | -2.5% | -3.3% |
| 4/17/2025 | 13.8% | 24.1% | 39.7% |
| 1/16/2025 | 3.7% | 16.7% | 25.6% |
| 10/17/2024 | -4.9% | -3.6% | 2.3% |
| ... | |||
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 16 |
| # Negative | 14 | 13 | 8 |
| Median Positive | 3.3% | 7.0% | 11.0% |
| Median Negative | -5.1% | -3.6% | -8.1% |
| Max Positive | 13.8% | 24.1% | 39.7% |
| Max Negative | -22.1% | -31.6% | -26.9% |
| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 7/16/2026 | 1.3% | 7.0% | 10.5% |
| 4/16/2026 | -22.1% | -31.6% | -26.9% |
| 1/15/2026 | -4.5% | 1.1% | 11.5% |
| 10/16/2025 | -19.2% | -17.1% | -14.0% |
| 7/17/2025 | -6.3% | -2.5% | -3.3% |
| 4/17/2025 | 13.8% | 24.1% | 39.7% |
| 1/16/2025 | 3.7% | 16.7% | 25.6% |
| 10/17/2024 | -4.9% | -3.6% | 2.3% |
| 7/18/2024 | 2.9% | -0.2% | 0.9% |
| 4/25/2024 | -7.0% | -6.6% | -7.1% |
| 1/18/2024 | -5.3% | -7.2% | 0.1% |
| 10/19/2023 | -6.5% | -12.7% | 6.0% |
| 7/20/2023 | -1.2% | 0.4% | -2.8% |
| 4/21/2023 | -2.8% | -2.0% | 9.0% |
| 1/20/2023 | 3.6% | 9.6% | 10.6% |
| 10/21/2022 | -3.9% | 0.8% | 5.8% |
| 7/21/2022 | -15.6% | -23.0% | -20.7% |
| 4/22/2022 | -2.4% | -2.2% | -9.1% |
| 1/20/2022 | 0.9% | -3.5% | -1.2% |
| 10/21/2021 | -1.7% | 0.3% | 18.7% |
| 7/22/2021 | 1.8% | 11.9% | 19.1% |
| 4/22/2021 | 7.2% | 17.8% | 16.0% |
| 1/21/2021 | 3.7% | 1.0% | 16.6% |
| 10/22/2020 | 1.7% | -2.1% | 20.8% |
| SUMMARY STATS | |||
| # Positive | 10 | 11 | 16 |
| # Negative | 14 | 13 | 8 |
| Median Positive | 3.3% | 7.0% | 11.0% |
| Median Negative | -5.1% | -3.6% | -8.1% |
| Max Positive | 13.8% | 24.1% | 39.7% |
| Max Negative | -22.1% | -31.6% | -26.9% |
SEC Filings
Expand for More| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/16/2026 | 10-Q |
| 03/31/2026 | 04/16/2026 | 10-Q |
| 12/31/2025 | 01/15/2026 | 10-Q |
| 09/30/2025 | 10/23/2025 | 10-K |
| 06/30/2025 | 07/17/2025 | 10-Q |
| 03/31/2025 | 04/17/2025 | 10-Q |
| 12/31/2024 | 01/16/2025 | 10-Q |
| 09/30/2024 | 10/24/2024 | 10-K |
| 06/30/2024 | 07/18/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 01/18/2024 | 10-Q |
| 09/30/2023 | 10/26/2023 | 10-K |
| 06/30/2023 | 07/20/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 01/19/2023 | 10-Q |
| 09/30/2022 | 10/27/2022 | 10-K |
| Report Date | Filing Date | Filing |
|---|---|---|
| 06/30/2026 | 07/16/2026 | 10-Q |
| 03/31/2026 | 04/16/2026 | 10-Q |
| 12/31/2025 | 01/15/2026 | 10-Q |
| 09/30/2025 | 10/23/2025 | 10-K |
| 06/30/2025 | 07/17/2025 | 10-Q |
| 03/31/2025 | 04/17/2025 | 10-Q |
| 12/31/2024 | 01/16/2025 | 10-Q |
| 09/30/2024 | 10/24/2024 | 10-K |
| 06/30/2024 | 07/18/2024 | 10-Q |
| 03/31/2024 | 04/25/2024 | 10-Q |
| 12/31/2023 | 01/18/2024 | 10-Q |
| 09/30/2023 | 10/26/2023 | 10-K |
| 06/30/2023 | 07/20/2023 | 10-Q |
| 03/31/2023 | 04/20/2023 | 10-Q |
| 12/31/2022 | 01/19/2023 | 10-Q |
| 09/30/2022 | 10/27/2022 | 10-K |
| 06/30/2022 | 07/21/2022 | 10-Q |
| 03/31/2022 | 04/21/2022 | 10-Q |
| 12/31/2021 | 01/20/2022 | 10-Q |
| 09/30/2021 | 10/28/2021 | 10-K |
| 06/30/2021 | 07/22/2021 | 10-Q |
| 03/31/2021 | 04/22/2021 | 10-Q |
| 12/31/2020 | 01/21/2021 | 10-Q |
| 09/30/2020 | 10/29/2020 | 10-K |
| 06/30/2020 | 07/16/2020 | 10-Q |
| 03/31/2020 | 04/16/2020 | 10-Q |
| 12/31/2019 | 01/16/2020 | 10-Q |
| 09/30/2019 | 10/25/2019 | 10-K |
Recent Forward Guidance
Updated 7/27/2026Latest: Q3 2026 Earnings Reported 7/16/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Capital Expenditures | Reported | 15.00 Mil | -25.0% | Lowered | Guidance: 20.00 Mil for 2026 | |||
Prior: Q2 2026 Earnings Reported 4/16/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Capital Expenditures | Reported | 20.00 Mil | 0 | Affirmed | Guidance: 20.00 Mil for 2026 | |||
Q1 2026 Earnings Reported 1/15/2026
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Capital Expenditures | Reported | 20.00 Mil | 0 | Affirmed | Guidance: 20.00 Mil for 2026 | |||
Q4 2025 Earnings Reported 10/16/2025
| Forward Guidance | Guidance Change | |||||||
|---|---|---|---|---|---|---|---|---|
| Metric | Source | Low | Mid | High | % Chg | % Delta | Change | Prior |
| 2026 Capital Expenditures | Reported | 20.00 Mil | 81.8% | Higher New | Guidance: 11.00 Mil for 2025 | |||
Insider Activity
Updated 8/27/2026| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 8272026 | 30.31 | 1,640 | 49,704 | 1,212,284 | Form |
| 2 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 2272026 | 37.67 | 1,679 | 63,248 | 1,506,800 | Form |
| 3 | York, James R | Senior Vice President | Direct | Sell | 9052025 | 38.50 | 600 | 23,100 | 340,456 | Form |
| 4 | York, James R | Senior Vice President | Direct | Sell | 8282025 | 38.50 | 3,000 | 115,500 | 363,556 | Form |
| 5 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 8262025 | 38.42 | 4,366 | 167,742 | 1,562,157 | Form |
| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 8272026 | 30.31 | 1,640 | 49,704 | 1,212,284 | Form |
| 2 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 2272026 | 37.67 | 1,679 | 63,248 | 1,506,800 | Form |
| 3 | York, James R | Senior Vice President | Direct | Sell | 9052025 | 38.50 | 600 | 23,100 | 340,456 | Form |
| 4 | York, James R | Senior Vice President | Direct | Sell | 8282025 | 38.50 | 3,000 | 115,500 | 363,556 | Form |
| 5 | Wagner, Richard | Senior Vice President and COO | Direct | Sell | 8262025 | 38.42 | 4,366 | 167,742 | 1,562,157 | Form |
Investor Activity (13F)
Updated Sep 8, 202613F holdings as of Mar 31, 2026 (Q1 2026)
Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.
Industry Resources
| Industrials Resources |
| IndustryWeek |
| Manufacturing.net |
| Aviation Week |
| Industrial Machinery & Supplies & Components Resources |
| Machine Design |
| Modern Machine Shop |
| Industrial Equipment News (IEN) |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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