Sectors & IndustriesIndustrialsMetal Fabrication

Best Metal Fabrication Stocks to Buy Now (2023)

Top metal fabrication stocks in 2023 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:

Mueller Industries (NYSE:MLI) is the top metal fabrication stock with a Zen Score of 64, which is 30 points higher than the metal fabrication industry average of 34. It passed 23 out of 38 due diligence checks and has strong fundamentals. Mueller Industries has seen its stock return 19.58% over the past year, underperforming other metal fabrication stocks by -7 percentage points.

Haynes International (NASDAQ:HAYN) is the second best metal fabrication stock with a Zen Score of 59, which is 25 points higher than the metal fabrication industry average of 34. It passed 22 out of 38 due diligence checks and has strong fundamentals. Haynes International has seen its stock return 22.72% over the past year, underperforming other metal fabrication stocks by -4 percentage points.

Mayville Engineering Company (NYSE:MEC) is the third best metal fabrication stock with a Zen Score of 56, which is 22 points higher than the metal fabrication industry average of 34. It passed 18 out of 33 due diligence checks and has strong fundamentals. Mayville Engineering Company has seen its stock return 56.92% over the past year, overperforming other metal fabrication stocks by 30 percentage points.

Mayville Engineering Company has an average 1 year price target of $18.50, an upside of 64.88% from Mayville Engineering Company's current stock price of $11.22.

Mayville Engineering Company stock has a consensus Strong Buy recommendation according to Wall Street analysts. Of the 4 analysts covering Mayville Engineering Company, 50% have issued a Strong Buy rating, 25% have issued a Buy, 25% have issued a hold, while 0% have issued a Sell rating, and 0% have issued a Strong Sell.

Out of 8 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 14.35%, which is 10 percentage points higher than the metal fabrication industry average of 4.62%. Highway Holdings's dividend payout is not stable, having dropped more than 10% seven times in the last 10 years. Highway Holdings's dividend has shown consistent growth over the last 10 years.

Highway Holdings's dividend payout ratio of -428.6% indicates that its high dividend yield might not be sustainable for the long-term.

Tredegar (NYSE:TG) has an annual dividend yield of 7.17%, which is 3 percentage points higher than the metal fabrication industry average of 4.62%. Tredegar's dividend payout is not stable, having dropped more than 10% one times in the last 10 years. Tredegar's dividend has shown consistent growth over the last 10 years.

Tredegar's dividend payout ratio of -76.5% indicates that its high dividend yield might not be sustainable for the long-term.

Insteel Industries (NYSE:IIIN) has an annual dividend yield of 6.6%, which is 2 percentage points higher than the metal fabrication industry average of 4.62%. Insteel Industries's dividend payout is not stable, having dropped more than 10% six 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 80.9% indicates that its high dividend yield is sustainable for the long-term.

Metal fabrication stocks were down -1.07% in the last day, and down -0.31% over the last week.

We couldn't find a catalyst for why metal fabrication stocks are down.

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

Haynes International (NASDAQ:HAYN) is the most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Haynes International has a valuation score of 71, which is 36 points higher than the metal fabrication industry average of 35. It passed 5 out of 7 valuation due diligence checks.

Haynes International's stock has gained 22.72% in the past year. It has underperformed other stocks in the metal fabrication industry by -4 percentage points.

Ryerson Holding (NYSE:RYI) is the second most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Ryerson Holding has a valuation score of 71, which is 36 points higher than the metal fabrication industry average of 35. It passed 5 out of 7 valuation due diligence checks.

Ryerson Holding's stock has gained 7.1% in the past year. It has underperformed other stocks in the metal fabrication industry by -19 percentage points.

Mueller Industries (NYSE:MLI) is the third most undervalued metal fabrication stock based on WallStreetZen's Valuation Score. Mueller Industries has a valuation score of 71, which is 36 points higher than the metal fabrication industry average of 35. It passed 5 out of 7 valuation due diligence checks.

Mueller Industries's stock has gained 19.58% in the past year. It has underperformed other stocks in the metal fabrication industry by -7 percentage points.