Mueller Industries: 686% Return Over Five Years, Earnings Per Share Growth and Dividend Payments Drive Share Price Performance.

Mueller Industries (NYSE:MLI) has delivered a 686% return to investors over the past five years, with a 36% gain in the last three months. The company's EPS growth of 44% per year is close to the average annual share price increase of 49%. Dividend payments have also contributed significantly to the company's total shareholder return.

Mueller Industries (NYSE:MLI) has demonstrated exceptional growth over the past five years, delivering a remarkable 686% return to investors. This strong performance is driven by a combination of earnings per share (EPS) growth and dividend payments. The company's EPS has grown at an impressive annual rate of 44%, closely matching the average annual share price increase of 49% The Gabelli Small Cap Growth Fund Q2 2025 Commentary^[1].

In the last three months alone, Mueller Industries has seen a significant gain of 36%. This performance is particularly notable given the broader market conditions and industry-specific challenges. The company's success can be attributed to its diversified product offerings, robust cash flows, and strategic acquisitions.

Mueller Industries manufactures and sells copper, brass, aluminum, and plastic products in the U.S. and internationally. Its largest segment, Piping Systems, has enjoyed outsized margins since the COVID-19 pandemic, despite the long-term substitution of PVC and aluminum for copper. The company's ability to maintain robust pricing in the face of lethargic volumes reflects its strong market position and strategic acumen.

One of the key drivers of Mueller Industries' growth is its strategic acquisitions. The company has built a near $1.5B cash war chest, which it has used to diversify its business into growth markets. For instance, the acquisition of utility T&D wiring company Nehring has allowed Mueller to leverage its metals know-how in new markets. Additionally, the $38mm acquisition of Elkhart Products copper fittings looks very sound and is indicative of the company's strategic approach to growth.

Mueller Industries' ability to maintain strong cash flows and invest in strategic acquisitions has positioned it well for future growth. The company's focus on diversification and strategic acquisitions, coupled with its robust pricing power, suggests that it is well-positioned to continue delivering strong performance in the coming years.