IIIN Stock Summary and Trading Ideas (Insteel Industries | NYSE:IIIN)

Insteel Industries Inc manufactures steel wire reinforcing products for concrete construction applications. It manufactures and markets PC strand and welded wire reinforcement, including ESM, concrete pipe reinforcement, and standard welded wire reinforcement. The company's products are sold primarily to manufacturers of concrete products that are used in nonresidential construction. Its concrete reinforcing products consist of two product lines: PC strand and WWR. Insteel generates its geographical revenue from the United States.

Insteel Industries trades on the NYSE stock market under the symbol IIIN.

As of April 18, 2024, IIIN stock price climbed to $32.97 with 72,739 million shares trading.

IIIN has a beta of 2.05, meaning it tends to be more sensitive to market movements. IIIN has a correlation of 0.48 to the broad based SPY ETF.

IIIN has a market cap of $641.30 million. This is considered a Small Cap stock.

Last quarter Insteel Industries reported $122 million in Revenue and $.06 earnings per share. This fell short of revenue expectation by $-8 million and exceeded earnings estimates by $.01.

In the last 3 years, IIIN stock traded as high as $47.70 and as low as $24.00.

The top ETF exchange traded funds that IIIN belongs to (by Net Assets): IJR, CALF, VTI, PAVE, IWM.

IIIN has outperformed the market in the last year with a return of +28.9%, while the SPY ETF gained +22.3%. However, in the most recent history, IIIN shares have underperformed the stock market with its stock returning -8.6% in the last 3 month period and -10.3% for the last 2 week period, while SPY has returned +6.1% and -3.8%, respectively.

IIIN support price is $32.05 and resistance is $33.45 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that IIIN stock will trade within this expected range on the day.