#6 - Mueller Industries (NYSE:MLI)
Mueller Industries Inc. (NYSE: MLI) is a mid-cap company that manufactures and sells copper, brass, aluminum, and plastic products. Despite missing on earnings estimates in the last two quarters, MLI stock is up 47% in 2024 and 80% in the last 12 months.
It seems investors are cheering a new direction for the company that accounts, in part, for the earnings mix. Mueller is acquiring the Nehring Electrical Works Company, a privately held company that manufactures copper and aluminum utility-grade transmission wire. One reason for Mueller’s interest in Nehring may be due to the growing demand for data centers that will require access to utility-grade wire.
In the last three years, Mueller has delivered annualized dividend growth of around 44%. With the acquisition of Nehring, investors may not get as big of a bump later this year, but it may make up for it in share price growth. The total return for MLI stock over the last five years is 495%.
About Mueller Industries
Mueller Industries, Inc manufactures and sells copper, brass, aluminum, and plastic products in the United States, the United Kingdom, Canada, South Korea, the Middle East, China, and Mexico. It operates through three segments: Piping Systems, Industrial Metals, and Climate. The Piping Systems segment offers copper tubes, fittings, line sets, and pipe nipples.
Read More - Current Price
- $89.20
- Consensus Rating
- Hold
- Ratings Breakdown
- 0 Buy Ratings, 1 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- N/A
