Mueller Industries, Inc. (MLI - Free Report) recently announced that it has entered into a contract to acquire the Flexible Duct business of Hart & Cooley, LLC. The buyout, which is subject to certain regulatory approvals, is expected to be completed in late January 2021. However, the financial terms of the deal were kept under wraps.
In the past couple of days, Mueller Industries’ shares declined 2.9% to eventually close the trading session at $34.51 yesterday.
Based in Grand Rapids, MI, Hart & Cooley is a leading provider of high quality air distribution products in the heating, ventilation and air conditioning industry. Notably, the company’s Flexible Duct business is engaged in providing flexible duct products for residential and commercial applications. It leverages formaldehyde-free insulation for improving indoor air quality.
Acquisition Rationale
The Flexible Duct business is believed to be a strategic fit for Mueller Industries. Notably, the buyout is likely to enable Mueller Industries to expand its product offerings and create growth opportunities in the air quality and climate control systems markets. When completed, this deal will also add value to the company’s ATCO Rubber Products (ATCO Flex) acquisition, made in 2018.
Mueller Industries, with approximately $2 billion market capitalization, currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s share price has increased 31.1% compared with the industry’s growth of 38.6%.
Stocks to Consider
Some better-ranked stocks from the Zacks Industrial Products sector are EnPro Industries, Inc. (NPO - Free Report) , Graco Inc. (GGG - Free Report) and Kaman Corporation . While EnPro currently sports a Zacks Rank #1 (Strong Buy), Graco and Kaman carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EnPro delivered a positive earnings surprise of 279.71%, on average, in the trailing four quarters.
Graco delivered a positive earnings surprise of 21.74%, on average, in the trailing four quarters.
Kaman delivered a positive earnings surprise of 43.61%, on average, in the trailing four quarters.
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Mueller Industries, Inc. (MLI - Free Report) recently announced that it has entered into a contract to acquire the Flexible Duct business of Hart & Cooley, LLC. The buyout, which is subject to certain regulatory approvals, is expected to be completed in late January 2021. However, the financial terms of the deal were kept under wraps.
In the past couple of days, Mueller Industries’ shares declined 2.9% to eventually close the trading session at $34.51 yesterday.
Based in Grand Rapids, MI, Hart & Cooley is a leading provider of high quality air distribution products in the heating, ventilation and air conditioning industry. Notably, the company’s Flexible Duct business is engaged in providing flexible duct products for residential and commercial applications. It leverages formaldehyde-free insulation for improving indoor air quality.
Acquisition Rationale
The Flexible Duct business is believed to be a strategic fit for Mueller Industries. Notably, the buyout is likely to enable Mueller Industries to expand its product offerings and create growth opportunities in the air quality and climate control systems markets. When completed, this deal will also add value to the company’s ATCO Rubber Products (ATCO Flex) acquisition, made in 2018.
Mueller Industries, with approximately $2 billion market capitalization, currently carries a Zacks Rank #3 (Hold). In the past three months, the company’s share price has increased 31.1% compared with the industry’s growth of 38.6%.
Stocks to Consider
Some better-ranked stocks from the Zacks Industrial Products sector are EnPro Industries, Inc. (NPO - Free Report) , Graco Inc. (GGG - Free Report) and Kaman Corporation . While EnPro currently sports a Zacks Rank #1 (Strong Buy), Graco and Kaman carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
EnPro delivered a positive earnings surprise of 279.71%, on average, in the trailing four quarters.
Graco delivered a positive earnings surprise of 21.74%, on average, in the trailing four quarters.
Kaman delivered a positive earnings surprise of 43.61%, on average, in the trailing four quarters.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2021.
Click here for the 6 trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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