Industrial stocks encompass a wide variety of industries. These include.s aerospace and defense, transportation services, logistics, agriculture, construction and engineering, building products and electrical components. It is a sector that is great for investors looking for a plentiful amount of companies to grow their investment portfolio.
Manufacturing, whether cars, medical devices, highways, or airplanes, is a crucial aspect of growth and innovation within a society. This enables many companies to flourish and provide investors with robust investment options.
Below are a number of companies that are primarily focused on manufacturing products.
VirTra (VTSI)
VirTra (NASDAQ:VTSI) is a business that provides training simulators for military and law enforcement purposes. It includes V-XR, a virtual reality headset for training, and V-300, V-180, and V-100. These are all training simulator screens with varying degrees of coverage surrounding the user.
Over the past year, its stock price has more than doubled. This is partly due to the positive results regarding its most recent earnings report, which was released on Nov. 14. Here, it stated that gross profit more than doubled from the previous year. Net income for Q3 2023 was reported as $1.6 million compared to Q3 2022, a net loss of $0.8 million. VTSI saw a jump in revenue due to improvements in its production facility. It was also due to the unveiling of new products like the V-XR.
VirTra is a company that is continuing to expand its product line. It is experiencing increased pre-order demand along with growth in revenue of more than 50% compared to Q3 2022. The company is poised for future growth. Investors looking for stocks on the cutting edge of the manufacturing industry are in for a great buy.
Steelcase (SCS)
Steelcase (NYSE:SCS) primarily offers office furniture and architecture products, including chairs, stools, storage shelves, adjustable desks, dividing walls, lighting, decor and related accessories.
On Dec. 19, SCS reported third-quarter earnings for 2023, in which it stated that gross profit grew by 6% and that operating income in both its international and domestic segments experienced growth that more than doubled compared to the previous year.
Over this past year, Steelcase has seen its share price rise by 62% due to increased earnings growth and the number of workers returning to the office continuing to grow.
Steelcase has been experiencing consistent share price appreciation and double-digit growth in total orders compared to Q3 2022. It is a company that offers investors future potential and a decent dividend yield of 3.17% annually, in which the most recent quarterly payout was for 10 cents a share on Jan. 16. This is easily one of the top industrial stocks on the market,
Janus International Group (JBI)
Janus International Group (NYSE:JBI) is a business that provides building products that are sold internationally, including moveable storage units, metal roll-up and swing doors, Bluetooth entry through its Noke app, and secure latches.
JBI reported earnings for the third quarter on Nov. 6, stating that total revenue grew by 7% and net income increased by 14% compared to the prior year. Full-year guidance for 2023 was raised slightly for total revenue and adjusted EBITDA.
Recently, Janus International announced that it would be equipping its Noke smart entry technology across 43 storage facilities owned by Trojan Storage. At this time, it has been implemented at nine facilities.
Janus has seen exceptional growth in the last couple of months due to its improved earnings results and groundbreaking deal with Trojan Storage. Forbes added it to the list of “America’s Most Successful Small-Cap Companies 2024,” which allows the company to be poised for a bright future. If you are looking for the top industrial stocks, start here.
As of this writing, Noah Bolton did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
