Insteel is the nation's largest manufacturer 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.
Insteel manufactures and markets concrete reinforcing products that are primarily used for nonresidential and infrastructure construction. In view of our construction end-markets, we believe it is appropriate to categorize Insteel as a building materials manufacturer rather than in the metals sector.
Insteel's products are sold nationwide as well as into Canada, Mexico, and Central and South America. We operate ten manufacturing facilities, which are located in Arizona, Florida (2), Kentucky, Missouri, North Carolina, Pennsylvania, Tennessee and Texas (2).
It is not possible to generalize as to how changes in steel prices impact Insteel's financial results. Ultimately the relative strength of demand for our products and competitive dynamics determine whether margins expand or contract during periods of rising or falling wire rod prices.
The only market served by Insteel that is significantly impacted by import competition is the commercial segment of our PC strand business. The government-funded segment of the market is subject to "Buy America" requirements which prohibit the use of foreign-sourced material, although this segment can be impacted as well depending upon comparative market conditions.
We continually review a range of alternative uses for excess cash including acquisitions, changes in our regular quarterly cash dividend, the payment of special dividends and share repurchases. 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.
The Company's fiscal year is the 52 or 53 weeks ending on the Saturday closest to September 30th.
Insteel's corporate offices are located in Mount Airy, North Carolina.
Insteel's common stock is traded on the NASDAQ Global Select Market under the symbol IIIN.
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 taking into account various factors, including general business conditions and our financial condition, operating results, cash requirements and expansion plans.
No, Insteel does not administer a direct purchase plan.
Yes, current shareholders may reinvest dividends in additional shares of Insteel stock. Registered shareholders may sign up to do so through our transfer agent, American Stock Transfer & Trust Company at www.amstock.com or (866) 627-2704. Shareholders with shares held by a broker should contact their broker to participate in dividend reinvestment.
If your shares are held by a broker or investment advisor, please contact your broker or advisor. If you hold your shares directly (holding your own certificate), please contact Insteel's transfer agent, American Stock Transfer & Trust Company at:
American Stock Transfer & Trust Company
Attn: Client Service Center, 3rd Floor
6201 15th Avenue
Brooklyn, New York 11219
(866) 627-2704 amstock.com
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