CRS - Materion Rewarded For Exceeding Even Bullish Margin-Improvement Assumptions
I’ve commented many times over the years that successful turnarounds, particularly when the company has some meaningful moats, can significantly exceed expectations. That’s certainly been playing out at Materion (MTRN), as the company’s restructuring efforts – including a more lucrative product mix and a shift toward a more variable cost structure – have paid off better than the Street or I expected. With that, the shares are up more than 20% over the past year – significantly outperforming kinda/sorta comps like Allegheny (ATI), Carpenter (CRS), and Johnson Matthey (