Metallus (NYSE:MTUS) Shares Gap Down – Time to Sell?

Metallus Inc. (NYSE:MTUS)’s stock price gapped down prior to trading on Tuesday. The stock had previously closed at $21.32, but opened at $19.90. Metallus shares last traded at $20.4880, with a volume of 20,918 shares.

Analysts Set New Price Targets

MTUS has been the subject of a number of research reports. Zacks Research raised shares of Metallus from a “hold” rating to a “strong-buy” rating in a research report on Monday, October 26th. KeyCorp reiterated a “sector weight” rating on shares of Metallus in a research note on Wednesday, August 5th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Metallus in a research report on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

Metallus Price Performance

The company has a 50 day moving average price of $19.82 and a 200-day moving average price of $19.17. The stock has a market capitalization of $855.32 million, a PE ratio of 108.66, a PEG ratio of 1.72 and a beta of 1.37.

Metallus (NYSE:MTUS) last issued its quarterly earnings results on Monday, November 2nd. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.05. Metallus had a net margin of 0.66% and a return on equity of 3.35%. The company had revenue of $337.20 million during the quarter, compared to analyst estimates of $345.15 million. As a group, equities analysts anticipate that Metallus Inc. will post 0.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Kristine Syrvalin sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, October 5th. The shares were sold at an average price of $21.12, for a total value of $105,600.00. Following the transaction, the executive vice president owned 101,078 shares in the company, valued at approximately $2,134,767.36. This represents a 4.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Metallus

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Metallus by 29.4% in the 2nd quarter. GAMMA Investing LLC now owns 4,335 shares of the company’s stock valued at $81,000 after acquiring an additional 986 shares in the last quarter. Hodges Capital Management Inc. increased its holdings in shares of Metallus by 8.2% in the 1st quarter. Hodges Capital Management Inc. now owns 17,110 shares of the company’s stock worth $280,000 after purchasing an additional 1,300 shares in the last quarter. Illinois Municipal Retirement Fund increased its holdings in shares of Metallus by 8.8% in the 1st quarter. Illinois Municipal Retirement Fund now owns 20,065 shares of the company’s stock worth $328,000 after purchasing an additional 1,617 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new position in shares of Metallus in the second quarter worth $37,000. Finally, Bank of America Corp DE raised its stake in shares of Metallus by 7.3% in the first quarter. Bank of America Corp DE now owns 45,400 shares of the company’s stock worth $742,000 after purchasing an additional 3,085 shares during the last quarter. 77.58% of the stock is currently owned by hedge funds and other institutional investors.

Metallus Company Profile

Metallus, Inc is a specialty metals manufacturer based in Canton, Ohio. The company produces alloy steel and other engineered materials for applications that require strength, durability, and precision. Its products are used in demanding industrial and transportation applications.

The company’s offerings include special bar quality steel, seamless mechanical tubing, and precision-engineered steel components. Metallus serves customers in markets such as automotive, aerospace and defense, energy, industrial equipment, and other manufacturing sectors.