KeyCorp Begins Coverage on Metallus (NYSE:MTUS)

Equities research analysts at KeyCorp assumed coverage on shares of Metallus (NYSE:MTUS) in a report issued on Wednesday. The brokerage set a “sector weight” rating on the stock.

MTUS has been the topic of several other reports. Weiss Ratings reiterated a “sell (d)” rating on shares of Metallus in a research report on Thursday, January 22nd. Zacks Research downgraded shares of Metallus from a “hold” rating to a “strong sell” rating in a report on Monday, March 2nd. Finally, Wall Street Zen downgraded Metallus from a “buy” rating to a “hold” rating in a research report on Saturday, February 28th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Reduce” and an average price target of $24.00.

Metallus Stock Up 5.0%

MTUS opened at $16.44 on Wednesday. The firm has a 50-day moving average price of $18.57 and a 200-day moving average price of $17.68. Metallus has a twelve month low of $10.78 and a twelve month high of $21.73. The company has a market capitalization of $685.83 million, a price-to-earnings ratio of -547.65, a PEG ratio of 1.09 and a beta of 1.43.

Metallus (NYSE:MTUS) last released its quarterly earnings data on Thursday, February 19th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.23). Metallus had a negative net margin of 0.10% and a positive return on equity of 2.30%. The business had revenue of $267.30 million during the quarter, compared to analysts’ expectations of $290.83 million. On average, sell-side analysts expect that Metallus will post 0.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Metallus news, COO Kristopher R. Westbrooks sold 10,932 shares of the stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $20.06, for a total transaction of $219,295.92. Following the transaction, the chief operating officer directly owned 189,076 shares in the company, valued at $3,792,864.56. This trade represents a 5.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 16,104 shares of company stock worth $328,592 in the last quarter. 3.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Metallus

A number of institutional investors have recently made changes to their positions in the business. Invesco Ltd. grew its holdings in shares of Metallus by 71.7% during the 4th quarter. Invesco Ltd. now owns 496,150 shares of the company’s stock valued at $8,514,000 after purchasing an additional 207,227 shares during the last quarter. VARCOV Co. bought a new stake in Metallus in the fourth quarter worth $250,000. Man Group plc purchased a new stake in Metallus during the fourth quarter valued at about $1,639,000. Balyasny Asset Management L.P. bought a new position in shares of Metallus during the fourth quarter valued at about $187,000. Finally, Guggenheim Capital LLC bought a new position in shares of Metallus during the fourth quarter valued at about $306,000. Hedge funds and other institutional investors own 77.58% of the company’s stock.

Metallus Company Profile

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.