Sectors & IndustriesIndustrialsMetal Fabrication

Best Metal Fabrication Stocks to Buy Now (2024)

Top metal fabrication stocks in 2024 ranked by overall Zen Score. See the best metal fabrication stocks to buy now, according to analyst forecasts for the metal fabrication industry.

According to Zen Score, the 3 best metal fabrication stocks to buy right now are:

Haynes International (NASDAQ:HAYN) is the top metal fabrication stock with a Zen Score of 59, which is 30 points higher than the metal fabrication industry average of 29. It passed 22 out of 38 due diligence checks and has strong fundamentals. Haynes International has seen its stock return 29.6% over the past year.

Mueller Industries (NYSE:MLI) is the second best metal fabrication stock with a Zen Score of 56, which is 27 points higher than the metal fabrication industry average of 29. It passed 21 out of 38 due diligence checks and has strong fundamentals. Mueller Industries has seen its stock return 54.09% over the past year, overperforming other metal fabrication stocks by 24 percentage points.

Worthington Enterprises (NYSE:WOR) is the third best metal fabrication stock with a Zen Score of 54, which is 25 points higher than the metal fabrication industry average of 29. It passed 20 out of 38 due diligence checks and has strong fundamentals. Worthington Enterprises has seen its stock lose -2.21% over the past year, underperforming other metal fabrication stocks by -32 percentage points.

Worthington Enterprises has an average 1 year price target of $60.00, an upside of 3.52% from Worthington Enterprises's current stock price of $57.96.

Worthington Enterprises stock has a consensus Sell recommendation according to Wall Street analysts. Of the 2 analysts covering Worthington Enterprises, 0% have issued a Strong Buy rating, 0% have issued a Buy, 50% have issued a hold, while 0% have issued a Sell rating, and 50% have issued a Strong Sell.

Out of 7 metal fabrication stocks that have issued dividends in the past year, the 3 metal fabrication stocks with the highest dividend yields are:

Highway Holdings (NASDAQ:HIHO) has an annual dividend yield of 9.52%, which is 6 percentage points higher than the metal fabrication industry average of 3.51%. Highway Holdings's dividend payout is not stable, having dropped more than 10% eight times in the last 10 years. Highway Holdings's dividend has not shown consistent growth over the last 10 years.

Insteel Industries (NYSE:IIIN) has an annual dividend yield of 8.22%, which is 5 percentage points higher than the metal fabrication industry average of 3.51%. Insteel Industries's dividend payout is not stable, having dropped more than 10% seven times in the last 10 years. Insteel Industries's dividend has not shown consistent growth over the last 10 years.

Insteel Industries's dividend payout ratio of 209.6% indicates that its high dividend yield might not be sustainable for the long-term.

Ryerson Holding (NYSE:RYI) has an annual dividend yield of 2.97%, which is -1 percentage points lower than the metal fabrication industry average of 3.51%.

Ryerson Holding's dividend payout ratio of 27.8% indicates that its dividend yield is sustainable for the long-term.

Metal fabrication stocks were up 0.58% in the last day, and up 0.92% over the last week. Carpenter Technology was the among the top gainers in the metal fabrication industry, gaining 14.74% yesterday.

Carpenter Technology shares are trading higher after the company reported mixed Q3 financial results and raised Q4 operating income guidance.

Based on WallStreetZen's Valuation Score, the 3 most undervalued metal fabrication stocks right now are:

Northwest Pipe Co (NASDAQ:NWPX) is the most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Northwest Pipe Co has a valuation score of 71, which is 41 points higher than the metal fabrication industry average of 30. It passed 5 out of 7 valuation due diligence checks.

Northwest Pipe Co's stock has gained 14.35% in the past year. It has underperformed other stocks in the metal fabrication industry by -15 percentage points.

Mueller Industries (NYSE:MLI) is the second most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Mueller Industries has a valuation score of 71, which is 41 points higher than the metal fabrication industry average of 30. It passed 5 out of 7 valuation due diligence checks.

Mueller Industries's stock has gained 54.09% in the past year. It has overperformed other stocks in the metal fabrication industry by 24 percentage points.

Haynes International (NASDAQ:HAYN) is the third most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Haynes International has a valuation score of 57, which is 27 points higher than the metal fabrication industry average of 30. It passed 4 out of 7 valuation due diligence checks.

Haynes International's stock has gained 29.6% in the past year. It has performed in line with other stocks in the metal fabrication industry.