To many investors, manufacturing stocks are boring, old-school investments that can’t provide the growth that sexier industries like software or biotech can. But while there may not be outsized growth in a midsize machine parts company, there is upside in a few corners of the manufacturing industry right now – if you know where to look.
In 2024, those more attractive segments include housing-related plays banking on a rebound in construction and high-tech manufacturing stocks capitalizing on some of the biggest themes on Wall Street right now.
The following manufacturing stocks show their potential, with gains of 50% or more in the last 12 months and momentum that hints there may still be future upside. Here are seven of the best manufacturing stocks to buy now:
Advanced Drainage Systems Inc. (WMS)
Advanced Drainage Systems manufactures the plastic corrugated pipes and related water management products that are ubiquitous at home improvement stores and on building sites. It also provides higher-priced items, such as septic tanks and specialized drainage products. Homebuilder confidence recently hit the highest level since last summer thanks to a stabilizing interest rate environment and stronger demand from consumers as mortgages have plateaued. And with many…
