10 Best Aluminum and Aluminum Mining Stocks To Buy

8. Mueller Industries, Inc. (NYSE:MLI

Number of Hedge Fund Holders: 27

Mueller Industries, Inc. (NYSE:MLI) is an industrial manufacturer that specializes in copper, brass, and aluminum products primarily used in HVAC systems, refrigeration, and industrial applications. The company serves sectors such as building construction, appliance, defense, energy, and automotive. Mueller Industries, Inc.’s (NYSE:MLI) operations span across North America, Europe, Asia, and the Middle East.

On October 22, Mueller Industries, Inc. (NYSE:MLI) announced its financial results for the third quarter of 2024. Net sales for the quarter reached $997.8 million, marking a significant increase from $819.8 million in the third quarter of 2023. Net income for the quarter climbed to $168.7 million, representing a 27.1% increase compared to $132.7 million in the third quarter of 2023. Diluted earnings per share (EPS) also grew to $1.48, up from $1.17 in the same period last year.

Looking forward, Greg Christopher, CEO of Mueller Industries, Inc. (NYSE:MLI) stated that he anticipates that declining interest rates, moderating inflation, and the resolution of election-related uncertainty, will support a more stable and favorable environment for the company’s business operations.