Metallus (NYSE:MTUS) Shares Gap Down After Earnings Miss

Metallus Inc. (NYSE:MTUS) shares gapped down prior to trading on Friday following a dissappointing earnings announcement. The stock had previously closed at $20.93, but opened at $17.69. Metallus shares last traded at $18.54, with a volume of 88,111 shares changing hands.

The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.23). The business had revenue of $267.30 million during the quarter, compared to the consensus estimate of $290.83 million. Metallus had a positive return on equity of 2.94% and a negative net margin of 0.73%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Metallus in a research note on Thursday, January 22nd. Zacks Research raised shares of Metallus from a “strong sell” rating to a “hold” rating in a report on Friday, January 30th. Finally, Wall Street Zen upgraded shares of Metallus from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Metallus currently has an average rating of “Hold” and a consensus price target of $24.00.

Insider Activity

In related news, COO Kristopher R. Westbrooks sold 2,128 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $21.28, for a total transaction of $45,283.84. Following the sale, the chief operating officer owned 189,076 shares of the company’s stock, valued at $4,023,537.28. This trade represents a 1.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 16,104 shares of company stock valued at $328,592 in the last quarter. 3.60% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Metallus

A number of institutional investors have recently bought and sold shares of the stock. First Citizens Bank & Trust Co. acquired a new position in shares of Metallus in the second quarter worth about $319,000. American Century Companies Inc. boosted its stake in shares of Metallus by 4.2% during the 2nd quarter. American Century Companies Inc. now owns 1,501,577 shares of the company’s stock valued at $23,139,000 after buying an additional 60,251 shares during the last quarter. South Dakota Investment Council grew its position in shares of Metallus by 273.8% during the second quarter. South Dakota Investment Council now owns 411,537 shares of the company’s stock worth $6,342,000 after buying an additional 301,431 shares in the last quarter. Donald Smith & CO. Inc. bought a new stake in shares of Metallus in the second quarter worth $8,575,000. Finally, Systematic Financial Management LP raised its stake in shares of Metallus by 7.2% in the 2nd quarter. Systematic Financial Management LP now owns 1,402,969 shares of the company’s stock valued at $21,620,000 after purchasing an additional 94,455 shares in the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

Metallus Stock Performance

The firm has a market cap of $761.74 million, a price-to-earnings ratio of -96.18, a price-to-earnings-growth ratio of 1.24 and a beta of 1.48. The business’s 50 day moving average price is $19.43 and its 200-day moving average price is $17.62.

About Metallus

Metallus, Inc (NYSE:MTUS) is an industrial metals recycling and distribution company that acquires, processes and markets a wide array of ferrous and non-ferrous materials. Its product portfolio includes stainless steel, nickel alloys, aluminum and other specialty metals sourced from manufacturing scrap, obsolete products and post-consumer waste streams. Metallus provides services such as shredding, sorting, melting and baling, enabling its customers to optimize metal recovery and streamline supply chains.

Headquartered in Philadelphia, Pennsylvania, the company operates processing facilities and distribution centers across the United States, facilitating efficient logistics and regional collection of metal grades.