Metallus (NYSE:MTUS) Stock Price Down 4.2% – Here’s What Happened

Metallus Inc. (NYSE:MTUS)’s share price dropped 4.2% during trading on Friday . The stock traded as low as $18.34 and last traded at $17.9250. Approximately 46,851 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 347,863 shares. The stock had previously closed at $18.72.

Analyst Upgrades and Downgrades

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

Metallus Trading Down 5.8%

The company has a market cap of $734.06 million, a PE ratio of -92.74, a P/E/G ratio of 2.08 and a beta of 1.45. The company has a fifty day simple moving average of $17.13 and a two-hundred day simple moving average of $16.34.

Metallus (NYSE:MTUS) last announced its quarterly earnings data on Thursday, November 6th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. The business had revenue of $241.90 million during the quarter, compared to the consensus estimate of $307.90 million. Metallus had a positive return on equity of 2.94% and a negative net margin of 0.73%. On average, research analysts anticipate that Metallus Inc. will post 0.66 EPS for the current fiscal year.

Institutional Investors Weigh In On Metallus

A number of hedge funds and other institutional investors have recently modified their holdings of MTUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake 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 valued at $25,885,000 after buying an additional 784,804 shares in the last quarter. Invenomic Capital Management LP acquired a new stake in shares of Metallus during the 1st quarter worth about $8,701,000. Donald Smith & CO. Inc. purchased a new stake in Metallus during the second quarter worth approximately $8,575,000. South Dakota Investment Council lifted its stake in 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 purchasing an additional 301,431 shares during the last quarter. Finally, CSM Advisors LLC acquired a new position in Metallus in the third quarter valued at approximately $4,415,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.

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.