Silence is golden: 3 overlooked stocks that are quietly hitting millionaires

We all know that headline-grabbing headlines drive up the score when we’re looking for stocks to buy. Nvidia (NASDAQ:NVDA), Super microcomputer (NASDAQ:SMCI), and even Carvana (NASDAQ:CVNA) have all had phenomenal performances over the past year, which have likely resulted in more than a few new millionaires.

What many don’t see are the under-the-radar companies that do the hard work year after year to make investors fabulously rich. These overlooked stocks may not be advertised from the rooftops, but you’d be remiss not to buy them. These are wealth-generating machines and stocks to buy today for many more years of outsized returns.

Stocks to Buy: Old Dominion Freight Line (ODFL)

The first stock to buy if you want to become a millionaire is a surprising choice: trucking company Former Dominion freight line (NASDAQ:ODFL). Unlike traditional point-to-point truckload transportation companies, Old Dominion is the second-largest player in revenue in the less-than-truckload (LTL) industry, behind FedEX (NYSE:FDX). Its Freight division generated $10.1 billion in revenue last year, while ODFL generated nearly $6.2 billion.

Old Dominion, however, has been chosen as the #1 LTL trucking company by Mastio market researchers for 14 consecutive years. Trucker consistently comes out on top in 28 distinct categories, such as on-time delivery, damage, shortages and service.

LTL companies pick up shipments at terminals, sort and consolidate them based on destination, then deliver freight from multiple shippers to multiple destinations.

Over the past 10 years, Old Dominion Freight Lines stock has been a great investment. Its total return is 752% compared to 239% for the S&P500. A $10,000 stake in ODFL in 2014 would be worth more than $85,200 today.

The LTL industry is not like the tech industry. You won’t get moonshots but steady growth of around 4% per year. You’ll find this overlooked stock as a “stable Eddy” that wins the race with fewer bumps along the road.

Axon Enterprise (AXON)

Axone Company (NASDAQ:AXONE) is probably more familiar to most investors. The maker of the Taser stun gun has enjoyed even better stock performance over the past decade than Old Dominion. Stocks are up more than 2,000% over the past 10 years, turning $10,000 into more than $211,000. Last November I said that if you only had $100 to invest, Axon would be a great addition to your portfolio. Since then, the stock has risen 31%. Today it remains a first choice.

Sales at Axon are up because law enforcement is demanding a less-than-lethal alternative. But the sale of body cameras has been even more important to the stun gun maker’s growth. In an age of accountability where protecting the public and law enforcement is equally vital, the use of body cameras has exploded.

While Taser sales rose 33% in the first quarter, sensors and software (Axon’s body camera business) soared 51% year over year.

Demand is not waning either, not just in the United States but around the world. In addition to the devices, there are “consumables” for the Tasers and the evidence database management system for the cameras. Often purchased on a subscription basis, they create a sticky environment that keeps customers coming back for more. As such, I think it’s one of the best stocks to buy.

Exterior deckers (DECK)

Another surprise choice for millionaires is Exterior decks (NASDAQ:BRIDGE). Who knew Uggs would have such endurance? They generated $2.2 billion in sales last year, an increase of 16% from the previous year. Yet as powerful as the shoe brand is, Decker’s fastest-growing brand is its Hoka running shoes. They generated $1.8 billion in sales last year, up 28% year-over-year.

In the fourth quarter, Hoka’s sales accelerated their growth spurt, jumping 34% and surpassing Ugg with $533 million in sales. Ugg had revenue of $361 million in the period, an increase of 15%.

Decker found new life for Uggs thanks to the extreme popularity of TikTok and influencers wearing the brand. Direct-to-consumer sales now represent 43% of the total, compared to less than a third a decade ago.

Over the past 10 years, Decker Outdoor stock has generated returns of 1,160% for investors, meaning $10,000 invested in the shoe stock would be worth $126,000 today. Look for the Ugg maker to continue to progress in the decade to come.

As of the date of publication, Rich Duprey did not hold (neither directly nor indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the author, subject to InvestorPlace.com’s publishing guidelines.