On the whole, you haven't missed much if you sat out the specialty metals space since December. Carpenter Technology (NYSE:CRS), Haynes International (NASDAQ:HAYN), and OM Group (NYSE:OMG) are all pretty close to flat over the last eight months, while Universal Stainless (NASDAQ:USAP) has fallen about 15%. Allegheny Technologies (NYSE:ATI) and Materion (NYSE:MTRN) have done much better, up more than 30% over that stretch, though Materion's performance puts it closer to the pack on a trailing one-year basis.
Valuation keeps me from being unreservedly bullish on Materion, but I really like this business. The business isn't wholly (or even mostly) dependent upon beryllium, nor any particular end market, but...
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