Industries
Building Materials
All research in Building Materials — 6 reports.
37/100
72Buffett
Mueller Industries: 64% of Q2's Revenue Jump Was Copper Price, Not Demand, and $62.80 Sits 12% to 21% Above the Conservative Value
Mueller Industries buys copper, brass and aluminum and sells fabricated tube, fittings, rod, wire, cable, valves and refrigeration components, so its economics are fabrication spreads rather than the metal price. Q2 2026 revenue rose 25.5% to $1.428 billion, but $184.6 million of the $289.8 million increase, or 64%, came from raw-material-linked selling prices and only $17.4 million from core unit volume, while roughly $1.41 billion of net cash funds acquisitions whose returns are still unproven, with Nehring earning $25.9 million of 2025 operating income on a roughly $569 million purchase price. Rating Hold: at $62.80 the shares sit inside the $58 to $78 acceptable-hold band and 12% to 21% above the $52 to $56 conservative value, with the ideal buy zone at $41 to $44 and no margin of safety today.
44/100
81Buffett
Simpson Manufacturing: A Genuine Specification Moat, but Guidance Implies Second-Half Margin Drops From 25.2% to About 17%
Simpson Manufacturing makes the code-tested structural connectors, fasteners and anchoring systems that hold light-frame buildings together, and its economics rest on engineer specification plus local availability rather than on the steel itself, which is why North America earned a 30.2% operating margin in the second quarter of 2026 while consolidated margin reached 25.2%. The quality of that growth was much weaker than the margin print: sales rose 6.3% on price, mix and currency while unit volume fell about 1%, and full-year guidance of 19.7%-20.5% implies roughly 17.5% in the second half, or about 16.6% once a planned land-sale gain is removed. Rating Hold: the specification moat is real and the balance sheet holds more cash than debt, yet at $189.84 the shares already sit 15%-23% above the $155-165 conservative intrinsic range, leaving no margin of safety until about $120-132.
38/100
71Buffett
Carlisle Companies: Second-Quarter Sales Rose 8.3% While Adjusted EBITDA Margin Fell 70 Basis Points, and Full-Year Guidance Went Up on Revenue and Down on Margin
Carlisle Companies is a North American building-envelope manufacturer whose earnings are led by Carlisle Construction Materials, which supplies complete low-slope commercial roof systems and produced 74% of 2025 revenue. Second-quarter 2026 sales rose 8.3% to 1.570 billion USD with both segments growing organically, yet consolidated adjusted EBITDA margin fell 70 basis points to 26.2% as petroleum-derived raw materials and freight outran realized price, and management raised full-year revenue guidance while cutting margin guidance from roughly 50 basis points of expansion to flat. Rating Hold: at the August 5 close of 385.32 USD the shares sit inside the 365 to 455 USD acceptable-hold band but far above the 260 to 280 USD ideal buy range, at about 18.1 times 2026 consensus earnings and with no margin of safety against the conservative case.
48/100
57Buffett
Saint-Gobain: A Higher Margin Floor Is Proven, but at 74.16 EUR the Price Sits Above the 64 EUR Conservative Value
Saint-Gobain is a global light-construction group that pairs local building-material platforms with a fast-growing construction-chemicals engine. 2025 delivered 46.5 billion euros of sales, a 15.5% EBITDA margin and 3.75 billion euros of free cash flow, yet Q1 2026 sales fell 2.3% like-for-like with North America down 11.3%. Rating Hold: the transformation is proven and the shares trade near 12.8x earnings against Sika at 24x, but at 74.16 EUR the price sits above the 64 EUR conservative value and the classical margin of safety is missing.
40/100
78Buffett
Masco Deep Value Investment Research
Masco is a North American home-improvement building-products brand portfolio anchored by Behr paint, Delta plumbing, and repair-and-remodel demand, with solid cash flow and disciplined buybacks. The business quality is sound, but growth is slow, dependence on The Home Depot is high, and the current share price of about USD 70 is already close to fair value with limited margin of safety. Report rating Watch: a good company at a broadly fair price, with an ideal buy range of USD 55 to 60.
45/100
Martin Marietta: A Long-Term Owner's Study of the U.S. Aggregates Leader
The second-largest U.S. aggregates producer, a regional oligopolist built on scarce quarries and roughly 85-year reserve lives. Its headline 13.7x PE is distorted by a one-off 2026 Q1 discontinued-operations gain; on Owner Earnings it actually trades at 33-38x, and the $574 price already discounts the optimistic case. Rating Watch: a fine business, but likely not a good price today.