# Insteel Industries Inc. (IIIN)

> Source: Nexqual · https://nexqual.com/IIIN · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Insteel Industries Inc. (IIIN), nexqual.com/IIIN" · informational, not investment advice.

**Price:** USD 30.3 (-0.30% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 30.39 · day 29.26–31.11 · 52w 24.35–38.45 · market cap $587M · NYQ

## Key facts
- Last four reported quarters (through Jun 27, 2026): revenue $708M, net income $36.4M (5.1% margin), free cash flow -$9.8M (SEC filings).
- Valuation: P/E 16.1x (avg 23.1x at the last 3 fiscal year-ends).
- 1 of 80 tracked superinvestors hold IIIN (13F, Q2 2026): 0 new, 1 added, 0 reduced, 0 unchanged.
- Insider open-market sales, last ~7 months: 1 Form 4 filings, $50K; 1 not under a Rule 10b5-1 plan ($50K); 1 by opportunistic insiders (1 outside 10b5-1 plans), 0 by routine insiders (three-year test, Cohen, Malloy & Pomorski 2012).
- Analysts: Hold (mean 3.00 on a 1–5 scale) (1 analysts), mean target USD 39 (range 39–39).
- Total return with dividends: 1Y +2.0% vs S&P 500 +14.9%; 5Y +9.5% vs S&P 500 +80.3%.
- Next earnings: 2027-01-14, EPS estimate USD 0.28, revenue estimate $174M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $591M | $827M | $649M | $529M | $648M | $708M |
| Gross profit | $122M | $197M | $65.4M | $49.6M | $93.4M | — |
| Net income | $66.6M | $125M | $32.4M | $19.3M | $41.0M | $36.4M |
| EPS (diluted) | $3.41 | $6.37 | $1.66 | $0.99 | $2.10 | — |
| Free cash flow | $52.4M | -$10.2M | $111M | $39.1M | $18.9M | -$9.8M |
| Gross margin | 20.6% | 23.9% | 10.1% | 9.4% | 14.4% | — |
| Net margin | 11.3% | 15.1% | 5.0% | 3.6% | 6.3% | 5.1% |
| Revenue growth | +25.0% | +40.0% | -21.5% | -18.5% | +22.4% | — |
| Cash + short-term investments | $89.9M | $48.3M | $126M | $112M | $38.6M | — |
Fiscal years end Sep. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 27, 2026)
P/E 16.1x · P/S 0.8x · P/B 1.6x · FCF yield -1.66% · Earnings yield 6.20% · Dividend yield (paid, TTM) 3.70% · Buyback yield (TTM) 0.51%
P/E at fiscal year-ends: Sep 2025 18.3x, Sep 2024 31.5x, Sep 2023 19.6x.

## Superinvestors (SEC 13F-HR, Q2 2026)
1 of 80 tracked investors hold IIIN. Each row is the investor's latest 13F; change is vs their prior-quarter share count.
| Investor | Firm | % of portfolio | Value | Change |
|---|---|---|---|---|
| First Eagle Investment | First Eagle Investment Management | 0.03% | $15.4M | Added +34.3% |

## Insider sales (SEC Form 4, open-market, last ~7 months)
0 of 1 under a Rule 10b5-1 trading plan (scheduled in advance). Unplanned sales were timed by the insider.
| Trade date | Insider | Role | Shares | Value | % of holdings sold | 10b5-1 plan | Insider type |
|---|---|---|---|---|---|---|---|
| 2026-08-27 | Wagner Richard | Senior Vice President and COO | 1,640 | $50K | 3.9% | No | Opportunistic (traded every year 2023–2025, no repeating month) |
% of holdings sold = shares sold ÷ (shares sold + all holdings the insider reported on that Form 4, direct and through trusts).
Insider type follows Cohen, Malloy & Pomorski (Journal of Finance, 2012). An insider who traded the stock in the same calendar month in each of the past three years is a routine trader; one who traded in each of those years without such a pattern is an opportunistic trader. In their study, trades by opportunistic insiders predicted future returns and trades by routine insiders did not. Counts open-market purchases and sales only (SEC Form 4 codes P and S) by that insider in that company. Not investment advice.

## Analysts
Consensus Hold (mean 3.00 on a 1–5 scale), 1 analysts; mean target USD 39 (low 39, high 39).

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +2.0% | +9.5% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +2.0% | +1.8% |
| Volatility (annualized) | 40.1% | 39.6% |
| Max drawdown | -35.7% (Feb 2026→May 2026) | -43.5% (May 2022→Oct 2022) |

## Peers (Metal Fabrication)
MEC (Mayville Engineering Company, I) USD 12.94 -10.45% · RYZ (Ryerson Holding Corporation) USD 28.05 -0.28% · PRLB (Proto Labs, Inc.) USD 84.36 -5.94% · WOR (Worthington Enterprises, Inc.) USD 64.44 -1.01% · GPGI (GPGI, Inc.) USD 12.55 -2.86% · ESAB (ESAB Corporation) USD 66.89 +0.80%

## More
Full page: https://nexqual.com/IIIN · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Revenue by product line (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| Welded Wire Reinforcement | $123.7M | 62.6% | +5.1% |
| PC Strand | $73.9M | 37.4% | +18.8% |
| Total revenue | $197.7M | 100% | — |

## Revenue by region (quarter ended 2026-06-27)

| Line | Revenue | Share | YoY |
|---|---|---|---|
| United States | $197.2M | 99.8% | +9.9% |
| Non Us | $447,000 | 0.2% | -13.0% |
| Total revenue | $197.7M | 100% | — |

## Company outlook (8-K filed 2026-10-22)

- "We expect this trend to continue throughout 2027." (MORE) Page 3 of 7 Woltz added, "As we enter fiscal 2027, we are focused on building on these growth opportunities while improving our cost competitiveness and operating efficiency."

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-12-31) | $0.28 | $0.28 | +0.0% | $174.4M | 1 |
| Next quarter (ends 2027-03-31) | $0.54 | $0.54 | +0.0% | $189.1M | 1 |
| Current fiscal year (ends 2027-09-30) | $2.42 | $2.42 | +0.0% | $794.0M | 1 |
| Next fiscal year (ends 2028-09-30) | $2.81 | $2.70 | +4.1% | $838.5M | 1 |