Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Mueller Industries
So what: Mueller shares are up more than 10% currently -- and deservedly so -- following its first-quarter results. The company, which supplies copper, aluminum, plastic, and brass products, benefited from the increased average selling price of metals across the board. It reported a first-quarter profit of $0.89 per share -- backing out one-time insurance gains -- on revenue of $687.7 million. This compares almost comically to the one estimate calling for a profit of $0.46 on revenue of $549 million.
Now what: Despite hearing from the horse's mouth that its housing business is practically anemic, I'd be scared to see what this company could do in a robust economy. Every segment of Mueller's business was up more than double digits on the back of a 42% increase in year-over-year revenue. The strength in metal fabrication appears to be sectorwide with Valmont Industries
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