Metallus Inc.
MTUS · Steel Works, Blast Furnaces & Rolling Mills (Coke Ovens) · 41.6M shares · +2%/yr ↑ dilution · EDGAR filings ↗
Net buyback after stock comp: $21M (gross $33M, SBC $12M)
Reference price $21.28 · est. market cap ~$886M — last insider sale, 2026-02-04 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
D53Cyclical SBQ steelmaker at roughly breakeven with strong liquidity and an aerospace/defense and tariff tailwind.
Strengths
- Strong balance sheet: $389M liquidity, current ratio 1.76, minimal debt
- Aerospace & defense sales up 19% and government-funded capacity investment
- Domestic producer positioned to benefit from 50% Section 232 steel tariffs
Risks
- Essentially breakeven year: net margin -0.1%, ROA/ROE near zero (43rd-49th pct)
- Net income fell 192% and gross margin sits in the 8th pct on pricing pressure
- Customer concentration (top 10 ~50% of sales) and energy/scrap cost volatility
Notable findings
- Net lossNet loss (net margin -0.1%)
- Customer concentration~50% of revenue from one customer/distributor — For the year ended December 31, 2025, sales to our 10 largest customers accounted for approximately 50% of our net sales
- Strong balance sheetStrong balance sheet — $157M cash & investments
- Insider sellingInsider selling — 9 open-market sale(s) by 2 insider(s) (cluster of 2 insiders, ~$1M, last 6mo) Form 4 ↗
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
8.2%
Net margin
-0.1%
Return on equity
-0.2%
Return on assets
-0.1%
Revenue growth (QoQ)
15.3%
Net-income growth
-192.3%
Current ratio
1.8×
Tangible book value
$683M
Cash & investments
$157M
Stock comp / revenue
1.3%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-16 | Zaranec John M | Tax withheld | 5.2K | $20.00 |
| 2026-04-30 | Edwards Randall H | Grant | 7.1K | — |
| 2026-04-30 | Chirekos Nicholas J. | Grant | 7.1K | — |
| 2026-04-30 | WOTRING RANDALL A | Grant | 7.1K | — |
| 2026-04-30 | Rankin Jamy P. | Grant | 7.1K | — |
| 2026-04-30 | Misheff Donald T | Grant | 7.1K | — |
| 2026-04-30 | Baker Mary Ellen | Grant | 7.1K | — |
| 2026-04-30 | Miller Melissa M | Grant | 7.1K | — |
| 2026-04-30 | Jones Ellis Allen | Grant | 7.1K | — |
| 2026-04-30 | RICE RONALD A | Grant | 7.1K | — |
| 2026-04-30 | Garcia Ken V | Grant | 7.1K | — |
| 2026-03-02 | Williams Michael S | Grant | 78K | — |
| 2026-03-02 | Raketich Kevin A | Grant | 20K | — |
| 2026-03-02 | SYRVALIN KRISTINE C | Grant | 20K | — |
| 2026-03-02 | WESTBROOKS KRISTOPHER R | Grant | 29K | — |
| 2026-03-02 | Zaranec John M | Grant | 16K | — |
| 2026-03-02 | Yacobozzi Nicholas A | Grant | 6.5K | — |
| 2026-03-01 | Williams Michael S | Tax withheld | 29K | $17.00 |
| 2026-03-01 | WESTBROOKS KRISTOPHER R | Tax withheld | 8.2K | $17.00 |
| 2026-03-01 | Raketich Kevin A | Tax withheld | 5.1K | $17.00 |
| 2026-03-01 | SYRVALIN KRISTINE C | Tax withheld | 7.3K | $17.00 |
| 2026-03-01 | Yacobozzi Nicholas A | Tax withheld | 2.8K | $17.00 |
| 2026-02-11 | Raketich Kevin A | Grant | 7.1K | — |
| 2026-02-11 | Raketich Kevin A | Tax withheld | 2.3K | $21.51 |
| 2026-02-11 | WESTBROOKS KRISTOPHER R | Grant | 7.6K | — |
| 2026-02-11 | WESTBROOKS KRISTOPHER R | Tax withheld | 3.5K | $21.51 |
| 2026-02-11 | Williams Michael S | Grant | 40K | — |
| 2026-02-11 | Williams Michael S | Tax withheld | 18K | $21.51 |
| 2026-02-11 | Yacobozzi Nicholas A | Grant | 3.0K | — |
| 2026-02-11 | Yacobozzi Nicholas A | Tax withheld | 1.5K | $21.51 |
| 2026-02-11 | SYRVALIN KRISTINE C | Grant | 6.7K | — |
| 2026-02-11 | SYRVALIN KRISTINE C | Tax withheld | 3.4K | $21.51 |
| 2026-02-04 | Williams Michael S | Sell | 14K | $21.28 |
| 2026-02-04 | WESTBROOKS KRISTOPHER R | Option exercise | 2.1K | $12.45 |
| 2026-02-04 | WESTBROOKS KRISTOPHER R | Sell | 2.1K | $21.28 |
| 2026-02-03 | Williams Michael S | Sell | 19K | $21.03 |
| 2026-02-03 | WESTBROOKS KRISTOPHER R | Option exercise | 3.0K | $12.45 |
| 2026-02-03 | WESTBROOKS KRISTOPHER R | Sell | 3.0K | $21.03 |
| 2026-01-15 | Williams Michael S | Sell | 603 | $21.00 |
| 2026-01-15 | WESTBROOKS KRISTOPHER R | Option exercise | 93 | $12.45 |
| 2026-01-15 | WESTBROOKS KRISTOPHER R | Sell | 93 | $21.00 |
| 2026-01-14 | WESTBROOKS KRISTOPHER R | Sell | 11K | $20.06 |
| 2026-01-14 | WESTBROOKS KRISTOPHER R | Option exercise | 5.2K | $12.45 |
| 2026-01-14 | WESTBROOKS KRISTOPHER R | Option exercise | 1.8K | $14.34 |
| 2026-01-09 | Williams Michael S | Sell | 4.8K | $19.11 |
| 2026-01-08 | Williams Michael S | Sell | 14K | $19.10 |
| 2026-01-02 | Raketich Kevin A | Option exercise | 8.2K | $7.46 |
| 2025-12-18 | Williams Michael S | Sell | 5.6K | $19.07 |
| 2025-12-17 | Williams Michael S | Sell | 8.4K | $19.04 |
| 2025-07-23 | WESTBROOKS KRISTOPHER R | Sell | 4.0K | $18.00 |
| 2025-07-23 | Yacobozzi Nicholas A | Sell | 22K | $18.00 |
| 2025-07-23 | SYRVALIN KRISTINE C | Sell | 7.5K | $18.00 |
| 2025-07-02 | SYRVALIN KRISTINE C | Sell | 7.5K | $16.00 |
| 2025-07-02 | WESTBROOKS KRISTOPHER R | Sell | 4.0K | $16.00 |
| 2025-06-16 | Zaranec John M | Grant | 35K | — |
| 2025-05-19 | Yacobozzi Nicholas A | Grant | 23K | — |
| 2025-05-07 | Jones Ellis Allen | Grant | 9.3K | — |
| 2025-05-07 | RICE RONALD A | Grant | 9.3K | — |
| 2025-05-07 | WOTRING RANDALL A | Grant | 9.3K | — |
| 2025-05-07 | Rankin Jamy P. | Grant | 9.3K | — |
| 2025-05-07 | Misheff Donald T | Grant | 9.3K | — |
| 2025-05-07 | Garcia Ken V | Grant | 9.3K | — |
| 2025-05-07 | Edwards Randall H | Grant | 9.3K | — |
| 2025-05-07 | Miller Melissa M | Grant | 9.3K | — |
| 2025-05-07 | Baker Mary Ellen | Grant | 9.3K | — |
| 2025-05-07 | Chirekos Nicholas J. | Grant | 9.3K | — |
| 2025-03-07 | Yacobozzi Nicholas A | Grant | 8.0K | — |
| 2025-03-07 | Williams Michael S | Grant | 96K | — |
| 2025-03-07 | WESTBROOKS KRISTOPHER R | Grant | 32K | — |
| 2025-03-07 | Raketich Kevin A | Grant | 25K | — |
| 2025-03-07 | SYRVALIN KRISTINE C | Grant | 25K | — |
| 2025-03-01 | SYRVALIN KRISTINE C | Tax withheld | 6.2K | $14.44 |
| 2025-03-01 | WESTBROOKS KRISTOPHER R | Tax withheld | 11K | $14.44 |
| 2025-03-01 | Raketich Kevin A | Tax withheld | 4.0K | $14.44 |
| 2025-03-01 | Yacobozzi Nicholas A | Tax withheld | 3.6K | $14.44 |
| 2025-03-01 | Williams Michael S | Tax withheld | 34K | $14.44 |
| 2025-02-11 | Williams Michael S | Grant | 59K | — |
| 2025-02-11 | Williams Michael S | Tax withheld | 27K | $15.61 |
| 2025-02-11 | Raketich Kevin A | Grant | 11K | — |
| 2025-02-11 | Raketich Kevin A | Tax withheld | 3.6K | $15.61 |
| 2025-02-11 | SYRVALIN KRISTINE C | Grant | 11K | — |
| 2025-02-11 | SYRVALIN KRISTINE C | Tax withheld | 5.4K | $15.61 |
| 2025-02-11 | Yacobozzi Nicholas A | Grant | 6.1K | — |
| 2025-02-11 | Yacobozzi Nicholas A | Tax withheld | 3.1K | $15.61 |
| 2025-02-11 | WESTBROOKS KRISTOPHER R | Grant | 19K | — |
| 2025-02-11 | WESTBROOKS KRISTOPHER R | Tax withheld | 9.1K | $15.61 |
All non-derivative Form 4 activity (SEC), newest first.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-05-04 | ResultsReg FDExhibits | filing ↗ |
| 2026-05-01 | Shareholder vote | filing ↗ |
| 2026-02-19 | ResultsReg FDExhibits | filing ↗ |
| 2025-11-06 | ResultsReg FDExhibits | filing ↗ |
| 2025-08-07 | ResultsReg FDExhibits | filing ↗ |
| 2025-05-20 | Exec/director changeReg FDExhibits | filing ↗ |
| 2025-05-08 | ResultsReg FDExhibits | filing ↗ |
| 2025-05-08 | Shareholder vote | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-05 | 2026-03-31 | 0001193125-26-205648 ↗ |
| 8-K | 2026-05-04 | 2026-05-04 | 0001193125-26-204015 ↗ |
| 8-K | 2026-05-01 | 2026-04-30 | 0001193125-26-201451 ↗ |
| 10-K | 2026-02-20 | 2025-12-31 | 0001193125-26-061042 ↗ |
| 8-K | 2026-02-19 | 2026-02-19 | 0001193125-26-059505 ↗ |
| 8-K | 2025-11-06 | 2025-11-06 | 0001193125-25-269616 ↗ |
| 10-Q | 2025-11-06 | 2025-09-30 | 0001193125-25-269669 ↗ |
| 10-Q | 2025-08-07 | 2025-06-30 | 0000950170-25-105098 ↗ |
| 8-K | 2025-08-07 | 2025-08-07 | 0000950170-25-105061 ↗ |
| 8-K | 2025-05-20 | 2025-05-19 | 0000950170-25-075348 ↗ |
| 10-Q | 2025-05-08 | 2025-03-31 | 0000950170-25-066985 ↗ |
| 8-K | 2025-05-08 | 2025-05-07 | 0000950170-25-067017 ↗ |