Insteel Industries (IIIN) is a highly cyclical commodity company operating within the steel market. The business manufactures steel wire reinforcing products and is the leader within this niche market in the steel industry.
Results can vary wildly a business like this. The company has enjoyed recent tailwinds as the construction of public work has expanded over the years. Still, the business has been caught on the wrong side of the steel tariffs imposed in 2018. The company has gone from a position of competitive strength to one in which overnight, foreign competitors gained