We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Mueller (MLI) to Buy Hart & Cooley's Flexible Duct Business
Read MoreHide Full Article
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%.
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.
Image: Bigstock
Mueller (MLI) to Buy Hart & Cooley's Flexible Duct Business
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 >>