CANTON, Ohio - Metallus Inc. (NYSE: MTUS), a manufacturer of specialty metals, announced today the election of Melissa M. Miller to its board of directors during the company's 2024 Annual Meeting of Shareholders. Miller, who currently serves as the Executive Vice President and Chief Human Resources Officer at Arconic Corporation, will fill the vacancy left by Diane Creel's retirement.
Miller's election is for a one-year term, and she joins ten other directors on the Metallus board. The shareholders also re-elected Mary Ellen Baker, Jamy Rankin, Ron Rice, and Metallus' CEO Mike Williams for a three-year term.
Ron Rice, chairman of Metallus' board, praised Miller's extensive industry and human resources experience, noting her track record in fostering growth through workforce engagement and her commitment to integrity, safety, sustainability, and operational excellence. Rice also acknowledged Diane Creel's significant contributions to the company as a founding board member.
Miller's background includes a tenure with Arconic since its inception in April 2020, following the company's separation from Arconic Inc., now Howmet Aerospace. She played a pivotal role in the 2022 negotiations for a four-year contract with the United Steel Workers. Her career began with Alcoa (NYSE:AA), Arconic's predecessor, in 2005, where she held various leadership roles and was involved in HR strategy, talent management, and international workforce expansion.
InvestingPro Insights
In light of Metallus Inc.'s recent board developments and their ongoing efforts to steer the company towards growth, it's important for investors to consider the financial health and market performance of MTUS. According to real-time data from InvestingPro, Metallus has a market capitalization of $905.46 million, showcasing its substantial presence in the specialty metals industry. The company's P/E ratio stands at a modest 13.19, which, when adjusted for the last twelve months as of Q4 2023, increases slightly to 17.67. This suggests that Metallus is trading at a reasonable valuation in terms of its near-term earnings potential.
InvestingPro Tips highlight that Metallus is currently trading at a low P/E ratio relative to its near-term earnings growth, indicating that the stock could be undervalued. This aligns with the company's strong free cash flow yield, as implied by its valuation, providing a potentially attractive opportunity for investors. Furthermore, the company's management has been actively buying back shares, a sign of confidence in the company's future prospects. Additionally, Metallus holds more cash than debt on its balance sheet, which bodes well for financial stability and operational flexibility.
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