Insteel is one of the nation's largest manufacturers of steel wire reinforcing products for concrete construction applications. We manufacture and market prestressed concrete strand and welded wire reinforcement, including engineered structural mesh, concrete pipe reinforcement and standard welded wire reinforcement.
What is the appropriate industry classification for Insteel?
Insteel manufactures and markets concrete reinforcing products that are used for nonresidential and infrastructure construction. In spite of its name and the fact that hot-rolled steel wire rod is its primary raw material, Insteel should be classified as a manufacturer of building materials rather than in the steel sector.
Where does Insteel operate?
Insteel's products are sold nationwide as well as into Canada, Mexico, and Central and South America. We currently operate six manufacturing facilities located in Delaware, Florida, Kentucky, North Carolina, Tennessee and Texas.
Do escalating steel prices have a positive or negative impact on Insteel's financial performance?
It is not possible to generalize as to how changes in steel prices will impact Insteel's financial results. Of greater importance are the market conditions for our products and competitive dynamics. Ultimately supply and demand for Insteel's finished products determines whether margins expand or contract during periods of rising or falling wire rod prices.
Is Insteel significantly impacted by import competition?
The commercial segment of Insteel's PC strand business is the only market served by the Company that is significantly impacted by import competition. The government-funded segment of the market is subject to "Buy America" requirements which prohibit the use of foreign-sourced material. However, import pricing can influence the governmental segment as well depending upon comparative market conditions.
What are Insteel's plans for the use of any excess cash flow that is generated?
We continually review a range of alternative uses for excess cash which includes changes in our cash dividend payout, share repurchases, and acquisitions. Any such decisions will be consistent with Insteel's long-term strategic objectives, ensuring that we maintain the flexibility to pursue future growth opportunities and sufficient liquidity to withstand future economic or cyclical downturns.
When does Insteel's fiscal year end?
The Company's fiscal year is the 52 or 53 weeks ending on the Saturday closest to September 30th.
Where is Insteel's main office?
Insteel's corporate offices are located in Mount Airy, North Carolina.
Where is Insteel's common stock traded?
Insteel's common stock is traded on the NASDAQ Global Select Market under the symbol IIIN.
Does Insteel pay cash dividends?
Insteel currently pays cash dividends on a quarterly basis. While we intend to pay regular quarterly cash dividends for the foreseeable future, the declaration and payment of future dividends, if any, are discretionary and will be subject to determination by our board of directors each quarter after its review of the Company's financial performance and business conditions.
Can Investors purchase shares directly from Insteel?
No, Insteel does not administer a direct purchase plan.
Whom do I contact about my shareholdings in Insteel?
If your shares are held by a broker or investment advisor, that firm or advisor should be your primary contact. If you hold your shares directly (holding your own certificate), please contact Insteel's transfer agent, American Stock Transfer & Trust Company. All inquiries can be directed to:
American Stock Transfer & Trust Company
59 Maiden Lane
Plaza Level
New York, New York 10038
(866) 627-2704
