#6 - Mueller Industries (NYSE:MLI)
A more “boring” way to invest in water stocks is with a picks-and-shovel company like Mueller Industries (NYSE:MLI). However, as Mueller proves, boring can be beautiful. The company manufactures the pipes, valves, and fittings that are essential to commercial and residential water systems. It also sells fire hydrants.
The company’s revenue and earnings have been growing strongly in the past year. And that is reflected in the company’s stock price which is up 44% in the past year, including about a 10% growth in 2022.
Despite this growth, MLI stock still sports an attractive valuation of just over 5x earnings. And the company is forecasting double digit earnings and revenue growth over the next five years.
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
- $80.18
- Consensus Rating
- Buy
- Ratings Breakdown
- 1 Buy Ratings, 0 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $105.00 (31.0% Upside)
