There are only a few expenses at our house where we both cringe at what this is about to cost AND want to hug the craftsman when the job is complete. Plumbing and HVAC solutions have more than pricing power, at approximately this rate: “YES…whatever it costs, please. How soon can you get here?”
With a tip of our sweaty caps to profit from Texas summers, one of our favorite little specialty parts suppliers for both plumbing and HVAC parts just provided another pay raise to stakeholders in 2024, a 33% dividend increase year over year.
Mueller Industries has been in business for over 100 years, solving the most critical problems that a homeowner or business could have and its wonderful business hides in plain sight from Wall Street analysts – not one of them covers this stock.
We like uncrowded opportunities. Mueller is one small simple example of a company capable of growing earnings more than twice as fast as the S&P 500 average recently. But it is priced at a discount of less than half the price to earnings valuation. How is that possible? Crowds of investors overlook opportunities all the time. A copper tube, air duct, or brass valve just isn’t as exciting as the next great artificial intelligence stock. But even those venture capitalists in Silicon Valley eventually need to take a bath and turn on the air conditioner.
In 2024, Mueller is rewarding its stakeholders with a 33% annual dividend raise.
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