COLLIERVILLE, Tennessee, June 2, 2026, 06:02 (CDT)
Mueller Industries is set to split its common stock two-for-one at the end of June. The copper products company’s outstanding shares will about double after a strong first quarter and a jump in its stock price.
Investors have limited time as split-adjusted trading is set to start at the July 1 market open. New York Stock Exchange-listed shares will begin trading at the new, lower split-adjusted price that day. Shareholders of record on June 25 will get one additional share for each share owned.
A forward stock split ups the share count and drops the per-share price but leaves an investor’s percentage stake unchanged. Mueller’s planned split would boost outstanding common shares to around 221.1 million, the company said.
Shares of MLI ended down 1.8% at $126.31, putting the market cap near $14.0 billion based on current U.S. figures. Investing.com said the stock climbed 67% in the past year and is about 11% off its 52-week peak.
Mueller’s board approved more common shares for its planned split, with the jump in shares coming from an amendment to the restated certificate of incorporation. The extra shares should go out after trading ends June 30.
Mueller’s split comes after the company posted first-quarter net sales of $1.19 billion, an increase from $1.00 billion a year ago. Net income was $239.0 million, up from $157.4 million. Diluted earnings per share came in at $2.16 compared with $1.39.
Mueller CEO Greg Christopher called it the “best first quarter earnings” ever for the company back in April, pointing to raw material and price management, cost discipline, and mix across end markets. Mueller said it closed the quarter with $1.38 billion in cash and zero debt. The company spent $75.0 million to buy back 650,000 shares. Mueller Industries, Inc.
Capital returns have the spotlight right now. Mueller said on May 8 it will pay a regular quarterly cash dividend of 35 cents per share. The payout is set for June 19 to shareholders on record as of June 5. This cash dividend is not part of the stock split.
Mueller has been growing capacity too. In March, the company picked up Bison Metals Technologies, a copper tube maker out of Shawnee, Oklahoma. CEO Gregory Christopher said buying Bison will boost U.S. tube capacity and cut tariff costs on feedstock shipped in from its foreign subsidiaries for domestic production.
Mueller makes copper tube and fittings, brass rod, forgings, valves, refrigeration fittings, pressure vessels, and also wire and cable products. The company serves plumbing, HVAC, industrial, medical, aerospace, and automotive markets. Mueller’s own filings put Cerro Flow Products and Cambridge-Lee Industries as its U.S. copper tube rivals, and it names Wieland Chase for brass rod.
July 1 isn’t locked in as the trading start. Mueller said NYSE approval is still needed for split-adjusted trading, and the company’s statement pointed to risks around shareholder approval for a charter change, raw materials, energy and costs, demand, pricing and rivals.
Mueller Industries, Inc. said it will file a Form 8-K with the SEC after the charter amendment takes effect, to update on the amendment and the new number of authorized common shares.
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