Intrinsic value of Mueller Industries - MLI

Previous Close

$28.69

  Intrinsic Value

$27.00

stock screener

  Rating & Target

hold

-6%

  Value-price divergence*

-43%

Previous close

$28.69

 
Intrinsic value

$27.00

 
Up/down potential

-6%

 
Rating

hold

 
Value-price divergence*

-43%

*Intrinsic value change (in %) minus stock price change (in %) in the past 12 months.

We calculate the intrinsic value of MLI stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 2016), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.6

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
2016(a)
   2017
   2018
   2019
   2020
   2021
   2022
   2023
   2024
   2025
   2026
   2027
   2028
   2029
   2030
   2031
   2032
   2033
   2034
   2035
   2036
   2037
   2038
   2039
   2040
   2041
   2042
   2043
   2044
   2045
   2046

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  -2.10
  8.40
  8.06
  7.75
  7.48
  7.23
  7.01
  6.81
  6.63
  6.46
  6.32
  6.19
  6.07
  5.96
  5.86
  5.78
  5.70
  5.63
  5.57
  5.51
  5.46
  5.41
  5.37
  5.33
  5.30
  5.27
  5.24
  5.22
  5.20
  5.18
  5.16
Revenue, $m
  2,056
  2,229
  2,408
  2,595
  2,789
  2,991
  3,200
  3,418
  3,645
  3,880
  4,125
  4,381
  4,646
  4,923
  5,212
  5,513
  5,828
  6,156
  6,498
  6,856
  7,231
  7,622
  8,032
  8,460
  8,909
  9,378
  9,870
  10,385
  10,925
  11,491
  12,083
Variable operating expenses, $m
 
  2,083
  2,250
  2,423
  2,603
  2,791
  2,985
  3,188
  3,398
  3,617
  3,845
  4,070
  4,316
  4,574
  4,842
  5,122
  5,414
  5,718
  6,037
  6,369
  6,717
  7,081
  7,461
  7,859
  8,276
  8,712
  9,169
  9,647
  10,149
  10,674
  11,225
Fixed operating expenses, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total operating expenses, $m
  1,903
  2,083
  2,250
  2,423
  2,603
  2,791
  2,985
  3,188
  3,398
  3,617
  3,845
  4,070
  4,316
  4,574
  4,842
  5,122
  5,414
  5,718
  6,037
  6,369
  6,717
  7,081
  7,461
  7,859
  8,276
  8,712
  9,169
  9,647
  10,149
  10,674
  11,225
Operating income, $m
  153
  146
  159
  172
  186
  200
  215
  230
  246
  263
  281
  311
  330
  350
  370
  392
  414
  437
  462
  487
  514
  541
  570
  601
  633
  666
  701
  738
  776
  816
  858
EBITDA, $m
  188
  186
  201
  217
  233
  250
  267
  285
  304
  324
  344
  366
  388
  411
  435
  460
  486
  514
  542
  572
  603
  636
  670
  706
  743
  783
  824
  867
  912
  959
  1,008
Interest expense (income), $m
  7
  7
  9
  11
  12
  14
  16
  18
  20
  22
  24
  26
  29
  31
  33
  36
  39
  42
  45
  48
  51
  54
  58
  62
  66
  70
  74
  78
  83
  88
  93
Earnings before tax, $m
  146
  138
  150
  161
  173
  186
  199
  213
  227
  241
  257
  285
  301
  319
  337
  355
  375
  396
  417
  439
  463
  487
  512
  539
  567
  596
  627
  659
  693
  728
  765
Tax expense, $m
  48
  37
  40
  44
  47
  50
  54
  57
  61
  65
  69
  77
  81
  86
  91
  96
  101
  107
  113
  119
  125
  131
  138
  146
  153
  161
  169
  178
  187
  197
  207
Net income, $m
  100
  101
  109
  118
  127
  136
  145
  155
  165
  176
  187
  208
  220
  233
  246
  260
  274
  289
  304
  321
  338
  355
  374
  394
  414
  435
  458
  481
  506
  532
  559

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  351
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,447
  1,188
  1,284
  1,383
  1,487
  1,594
  1,706
  1,822
  1,943
  2,068
  2,199
  2,335
  2,477
  2,624
  2,778
  2,939
  3,106
  3,281
  3,464
  3,655
  3,854
  4,063
  4,281
  4,510
  4,749
  4,999
  5,261
  5,536
  5,823
  6,125
  6,441
Adjusted assets (=assets-cash), $m
  1,096
  1,188
  1,284
  1,383
  1,487
  1,594
  1,706
  1,822
  1,943
  2,068
  2,199
  2,335
  2,477
  2,624
  2,778
  2,939
  3,106
  3,281
  3,464
  3,655
  3,854
  4,063
  4,281
  4,510
  4,749
  4,999
  5,261
  5,536
  5,823
  6,125
  6,441
Revenue / Adjusted assets
  1.876
  1.876
  1.875
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
  1.876
Average production assets, $m
  327
  354
  383
  413
  443
  476
  509
  544
  580
  617
  656
  697
  739
  783
  829
  877
  927
  979
  1,033
  1,090
  1,150
  1,212
  1,277
  1,345
  1,416
  1,491
  1,569
  1,651
  1,737
  1,827
  1,921
Working capital, $m
  675
  366
  395
  426
  457
  490
  525
  561
  598
  636
  677
  718
  762
  807
  855
  904
  956
  1,010
  1,066
  1,124
  1,186
  1,250
  1,317
  1,387
  1,461
  1,538
  1,619
  1,703
  1,792
  1,884
  1,982
Total debt, $m
  227
  258
  304
  353
  403
  455
  510
  566
  625
  686
  750
  816
  885
  957
  1,032
  1,110
  1,192
  1,277
  1,366
  1,459
  1,556
  1,658
  1,764
  1,875
  1,992
  2,114
  2,241
  2,375
  2,515
  2,662
  2,816
Total liabilities, $m
  549
  579
  625
  674
  724
  776
  831
  887
  946
  1,007
  1,071
  1,137
  1,206
  1,278
  1,353
  1,431
  1,513
  1,598
  1,687
  1,780
  1,877
  1,979
  2,085
  2,196
  2,313
  2,435
  2,562
  2,696
  2,836
  2,983
  3,137
Total equity, $m
  899
  609
  659
  710
  763
  818
  875
  935
  997
  1,061
  1,128
  1,198
  1,271
  1,346
  1,425
  1,508
  1,594
  1,683
  1,777
  1,875
  1,977
  2,084
  2,196
  2,313
  2,436
  2,564
  2,699
  2,840
  2,987
  3,142
  3,304
Total liabilities and equity, $m
  1,448
  1,188
  1,284
  1,384
  1,487
  1,594
  1,706
  1,822
  1,943
  2,068
  2,199
  2,335
  2,477
  2,624
  2,778
  2,939
  3,107
  3,281
  3,464
  3,655
  3,854
  4,063
  4,281
  4,509
  4,749
  4,999
  5,261
  5,536
  5,823
  6,125
  6,441
Debt-to-equity ratio
  0.253
  0.420
  0.460
  0.500
  0.530
  0.560
  0.580
  0.610
  0.630
  0.650
  0.660
  0.680
  0.700
  0.710
  0.720
  0.740
  0.750
  0.760
  0.770
  0.780
  0.790
  0.800
  0.800
  0.810
  0.820
  0.820
  0.830
  0.840
  0.840
  0.850
  0.850
Adjusted equity ratio
  0.500
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513
  0.513

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  100
  101
  109
  118
  127
  136
  145
  155
  165
  176
  187
  208
  220
  233
  246
  260
  274
  289
  304
  321
  338
  355
  374
  394
  414
  435
  458
  481
  506
  532
  559
Depreciation, amort., depletion, $m
  35
  40
  42
  45
  47
  50
  52
  55
  58
  61
  64
  54
  58
  61
  65
  68
  72
  76
  81
  85
  90
  95
  100
  105
  111
  116
  123
  129
  136
  143
  150
Funds from operations, $m
  163
  141
  152
  162
  174
  185
  197
  210
  223
  237
  251
  262
  278
  294
  311
  328
  346
  365
  385
  406
  427
  450
  474
  499
  525
  552
  580
  610
  642
  674
  709
Change in working capital, $m
  5
  28
  29
  31
  32
  33
  34
  36
  37
  39
  40
  42
  44
  45
  47
  49
  52
  54
  56
  59
  61
  64
  67
  70
  74
  77
  81
  84
  89
  93
  97
Cash from operations, $m
  158
  113
  122
  132
  142
  152
  163
  174
  186
  198
  211
  221
  234
  248
  263
  279
  295
  311
  329
  347
  366
  386
  407
  428
  451
  475
  500
  526
  553
  582
  611
Maintenance CAPEX, $m
  0
  -26
  -28
  -30
  -32
  -35
  -37
  -40
  -42
  -45
  -48
  -51
  -54
  -58
  -61
  -65
  -68
  -72
  -76
  -81
  -85
  -90
  -95
  -100
  -105
  -111
  -116
  -123
  -129
  -136
  -143
New CAPEX, $m
  -38
  -28
  -29
  -30
  -31
  -32
  -33
  -35
  -36
  -37
  -39
  -41
  -42
  -44
  -46
  -48
  -50
  -52
  -54
  -57
  -60
  -62
  -65
  -68
  -71
  -75
  -78
  -82
  -86
  -90
  -94
Cash from investing activities, $m
  -53
  -54
  -57
  -60
  -63
  -67
  -70
  -75
  -78
  -82
  -87
  -92
  -96
  -102
  -107
  -113
  -118
  -124
  -130
  -138
  -145
  -152
  -160
  -168
  -176
  -186
  -194
  -205
  -215
  -226
  -237
Free cash flow, $m
  105
  59
  66
  72
  79
  85
  93
  100
  108
  115
  124
  129
  138
  147
  156
  166
  176
  187
  198
  209
  221
  234
  247
  261
  275
  290
  305
  321
  338
  356
  374
Issuance/(repayment) of debt, $m
  5
  45
  47
  48
  50
  52
  54
  57
  59
  61
  64
  66
  69
  72
  75
  78
  82
  85
  89
  93
  97
  102
  106
  111
  116
  122
  128
  134
  140
  147
  154
Issuance/(repurchase) of shares, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  -2
  45
  47
  48
  50
  52
  54
  57
  59
  61
  64
  66
  69
  72
  75
  78
  82
  85
  89
  93
  97
  102
  106
  111
  116
  122
  128
  134
  140
  147
  154
Total cash flow (excl. dividends), $m
  97
  104
  112
  121
  129
  138
  147
  156
  166
  177
  187
  195
  207
  219
  231
  244
  258
  272
  287
  302
  319
  336
  353
  372
  391
  411
  433
  455
  478
  503
  528
Retained Cash Flow (-), $m
  -72
  -47
  -49
  -51
  -53
  -55
  -57
  -60
  -62
  -64
  -67
  -70
  -73
  -76
  -79
  -82
  -86
  -90
  -94
  -98
  -102
  -107
  -112
  -117
  -123
  -128
  -134
  -141
  -148
  -155
  -162
Prev. year cash balance distribution, $m
 
  337
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
 
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
 
  394
  63
  70
  76
  83
  90
  97
  104
  112
  120
  125
  134
  143
  152
  162
  172
  182
  193
  204
  216
  228
  241
  255
  269
  283
  298
  314
  331
  348
  366
Discount rate, %
 
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
 
  377
  58
  61
  63
  64
  65
  65
  65
  64
  63
  59
  57
  54
  51
  48
  44
  40
  36
  31
  27
  24
  20
  17
  14
  11
  9
  7
  5
  4
  3
Current shareholders' claim on cash, %
  100
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0
  100.0

Mueller Industries, Inc. manufactures and sells copper, brass, aluminum, and plastic products in the United States, Canada, Mexico, the Great Britain, and China. Its Plumbing & Refrigeration segment offers copper tubes and coils; and copper and plastic fittings, line sets, valves, and related components for use in water distribution systems, heating systems, air-conditioning, and refrigeration applications, as well as for drainage, waste, and vent systems. It also fabricates steel pipe nipples; and resells imported brass and plastic plumbing valves, malleable iron fittings, faucets, and plumbing specialty products to plumbing wholesalers and building materials retailers, as well as to distributors of manufactured housing and recreational vehicle industries. This segment markets its products through its sales offices and distribution centers, and agents. The company’s Original Equipment Manufacturers (OEM) segment manufactures and sells brass, bronze, and copper alloy rods for applications that require a high degree of machinability, wear and corrosion resistance, and electrical conductivity; brass and aluminum forgings for use in automotive components, brass fittings, industrial machinery, valve bodies, gear blanks, and computer hardware; and cold-formed aluminum and copper impact extrusions for use in automotive, military ordnance, aerospace, and general manufacturing industries. It also manufactures and fabricates valves and custom OEM products for refrigeration and air-conditioning, gas appliance, and barbecue grill applications; engineered copper tubes for air-conditioning applications; and high-pressure components and accessories for the air-conditioning and refrigeration markets, as well as coaxial heat exchangers and twisted tubes, and fluid control solutions. This segment sells its products directly to OEM customers, as well as to other manufacturers and distributors. The company was founded in 1900 and is headquartered in Memphis, Tennessee.

FINANCIAL RATIOS  of  Mueller Industries (MLI)

Valuation Ratios
P/E Ratio 16.5
Price to Sales 0.8
Price to Book 1.8
Price to Tangible Book
Price to Cash Flow 10.4
Price to Free Cash Flow 13.7
Growth Rates
Sales Growth Rate -2.1%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 31%
Cap. Spend. - 3 Yr. Gr. Rate -1.5%
Financial Strength
Quick Ratio 25
Current Ratio 0.2
LT Debt to Equity 23.7%
Total Debt to Equity 25.3%
Interest Coverage 22
Management Effectiveness
Return On Assets 7.5%
Ret/ On Assets - 3 Yr. Avg. 7.6%
Return On Total Capital 9.2%
Ret/ On T. Cap. - 3 Yr. Avg. 9.4%
Return On Equity 11.6%
Return On Equity - 3 Yr. Avg. 12.2%
Asset Turnover 1.5
Profitability Ratios
Gross Margin 16.3%
Gross Margin - 3 Yr. Avg. 14.6%
EBITDA Margin 9.1%
EBITDA Margin - 3 Yr. Avg. 8.5%
Operating Margin 7.4%
Oper. Margin - 3 Yr. Avg. 6.8%
Pre-Tax Margin 7.1%
Pre-Tax Margin - 3 Yr. Avg. 6.5%
Net Profit Margin 4.9%
Net Profit Margin - 3 Yr. Avg. 4.5%
Effective Tax Rate 32.9%
Eff/ Tax Rate - 3 Yr. Avg. 32.2%
Payout Ratio 21%

MLI stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the MLI stock intrinsic value calculation we used $2056 million for the last fiscal year's total revenue generated by Mueller Industries. The default revenue input number comes from 2016 income statement of Mueller Industries. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our MLI stock valuation model: a) initial revenue growth rate of 8.4% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for MLI is calculated based on our internal credit rating of Mueller Industries, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Mueller Industries.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of MLI stock the variable cost ratio is equal to 93.5%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $0 million in the base year in the intrinsic value calculation for MLI stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 3.5% for Mueller Industries.

Corporate tax rate of 27% is the nominal tax rate for Mueller Industries. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the MLI stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for MLI are equal to 15.9%.

Life of production assets of 12.8 years is the average useful life of capital assets used in Mueller Industries operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for MLI is equal to 16.4%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $899 million for Mueller Industries - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 55.954 million for Mueller Industries is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Mueller Industries at the current share price and the inputted number of shares is $1.6 billion.

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COMPANY NEWS

▶ Final site plan approved for new Fortune 1000 HQ in Collierville   [Aug-18-17 12:30PM  American City Business Journals]
▶ Mueller Industries posts 2Q profit   [Jul-25-17 04:56PM  Associated Press]
▶ Memphis public company makes acquisitions in Canada   [Jun-06-17 01:25PM  American City Business Journals]
▶ Here Are Mario Gabellis Top Infrastructure Bets   [May-26-17 07:37AM  Market Realist]
▶ Fortune 1000 company set to relocate HQ from Memphis   [Apr-26-17 06:55PM  American City Business Journals]
▶ Mueller Industries posts 1Q profit   [Apr-25-17 09:04AM  Associated Press]
▶ Mueller Industries posts 4Q profit   [08:06AM  Associated Press]
▶ Mueller Industries, Inc. Announces New Capital Investment   [Dec-02-16 07:01AM  GlobeNewswire]
▶ Hedge Funds Are Selling Office Depot Inc (ODP)   [Nov-29-16 04:05AM  at Insider Monkey]
▶ Mueller Industries raises dividend 33%   [07:07AM  at MarketWatch]
▶ Mueller Industries raises dividend 33%   [07:07AM  at MarketWatch]
▶ CEO forecasts 2016 copper prices, affect on Mueller   [11:30AM  at bizjournals.com]
Stock chart of MLI Financial statements of MLI
Valuation of Stocks

The paper VALUATION OF STOCKS: The Quest for Intrinsic Value provides a detailed description of our valuation model and discloses the calculation algorithm.

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