Metallus (NYSE:MTUS) Hits New 1-Year High – Here’s Why

Metallus Inc. (NYSE:MTUS)’s share price reached a new 52-week high on Wednesday . The company traded as high as $18.89 and last traded at $18.7990, with a volume of 25347 shares traded. The stock had previously closed at $18.34.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MTUS shares. Wall Street Zen upgraded shares of Metallus from a “hold” rating to a “buy” rating in a report on Saturday, December 13th. Weiss Ratings reissued a “sell (d)” rating on shares of Metallus in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.00.

Metallus Trading Down 1.6%

The firm’s fifty day moving average price is $17.13 and its 200-day moving average price is $16.34. The company has a market cap of $779.67 million, a P/E ratio of -98.53, a P/E/G ratio of 2.08 and a beta of 1.45.

Metallus (NYSE:MTUS) last released its earnings results on Thursday, November 6th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.17 by $0.11. Metallus had a negative net margin of 0.73% and a positive return on equity of 2.94%. The business had revenue of $241.90 million during the quarter, compared to analysts’ expectations of $307.90 million. As a group, research analysts forecast that Metallus Inc. will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Metallus

A number of institutional investors and hedge funds have recently modified their holdings of the company. First Citizens Bank & Trust Co. bought a new position in shares of Metallus during the 2nd quarter worth about $319,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Metallus by 68.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,937,438 shares of the company’s stock worth $25,885,000 after purchasing an additional 784,804 shares in the last quarter. American Century Companies Inc. lifted its stake in Metallus by 4.2% during the second quarter. American Century Companies Inc. now owns 1,501,577 shares of the company’s stock worth $23,139,000 after purchasing an additional 60,251 shares during the period. Azarias Capital Management L.P. boosted its holdings in Metallus by 14.1% during the second quarter. Azarias Capital Management L.P. now owns 593,036 shares of the company’s stock valued at $9,139,000 after purchasing an additional 73,263 shares in the last quarter. Finally, Donald Smith & CO. Inc. bought a new stake in shares of Metallus in the 2nd quarter valued at approximately $8,575,000. 77.58% of the stock is currently owned by institutional investors.

About Metallus

Metallus Inc manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. The company offers special bar quality (SBQ) bars, seamless mechanical tubes, precision steel components, and billets that are used in gears, hubs, axles, crankshafts and motor shafts, oil country drill pipes, bits and collars, bearing races and rolling elements, bushings, fuel injectors, wind energy shafts, anti-friction bearings, artillery and mortar bodies, and other applications.