Mueller Industries Inc. (MLI)

Very solid company yes. Strong margins, good returns on capital. As you mentioned, company is debt free which should allow it to deploy a lot of its free cash flow to new acquisitions. A lot of its growth in 2024/2025 is attributed to acquisitions.

The only thing I would argue is that this wouldn't necessarily be a "safe" play in an uncertain environment. The company relies heavily on the construction sector. A recession would likely bring on lower construction activity overall, which could ultimately impact the company's sales.

If we look back to historical recessions previously, you can see the company's revenue dipped in the dot com boom, the financial crisis, the oil correction in 2014, and also in 2022 when rates started rising.

You have your eyes on a solid company for sure, but I wouldn't get the idea that it is a steady play in the event of an economic drawdown. It would likely be hit. However, as a long-term holding, no issues with it. I just argue right now might not be the best time to pull the trigger. Stock I'd be adding to my watchlist for sure though.