121,492 Shares in Metallus Inc. $MTUS Purchased by Wedge Capital Management L L P NC

Key Points

• Wedge Capital Management L L P NC acquired 121,492 shares of Metallus Inc. ($MTUS), valued at approximately $1,872,000, increasing its stake to 0.29% at the end of the second quarter.
• Metallus reported $0.20 earnings per share for the last quarter, exceeding analyst expectations of $0.16, with total revenue of $304.60 million.
• Equities research analysts have upgraded Metallus shares from a "sell" to a "hold" rating, with some projecting a target price of $24.00 for the stock.

Wedge Capital Management L L P NC acquired a new position in Metallus Inc. (NYSE:MTUS - Free Report) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 121,492 shares of the company's stock, valued at approximately $1,872,000. Wedge Capital Management L L P NC owned 0.29% of Metallus at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its position in shares of Metallus by 108.1% during the first quarter. GAMMA Investing LLC now owns 1,883 shares of the company's stock worth $25,000 after acquiring an additional 978 shares during the period. CWM LLC boosted its stake in shares of Metallus by 60.2% during the first quarter. CWM LLC now owns 3,421 shares of the company's stock valued at $46,000 after purchasing an additional 1,286 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Metallus during the first quarter valued at approximately $67,000. Strs Ohio bought a new position in shares of Metallus during the first quarter valued at approximately $142,000. Finally, Teacher Retirement System of Texas bought a new position in shares of Metallus during the first quarter valued at approximately $142,000. 77.58% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Metallus

In other Metallus news, EVP Kristine C. Syrvalin sold 7,500 shares of the business's stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $16.00, for a total value of $120,000.00. Following the transaction, the executive vice president directly owned 97,410 shares in the company, valued at $1,558,560. The trade was a 7.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Kristopher R. Westbrooks sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The stock was sold at an average price of $18.00, for a total transaction of $72,000.00. Following the completion of the transaction, the chief operating officer owned 193,076 shares in the company, valued at approximately $3,475,368. This represents a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 44,974 shares of company stock worth $786,532 in the last ninety days. 3.60% of the stock is owned by insiders.

Metallus Trading Up 0.0%

MTUS opened at $16.42 on Tuesday. The firm has a market capitalization of $686.64 million, a PE ratio of -32.19, a PEG ratio of 1.85 and a beta of 1.46. Metallus Inc. has a twelve month low of $10.78 and a twelve month high of $18.17. The firm's 50-day moving average price is $16.28 and its 200 day moving average price is $14.59.

Metallus (NYSE:MTUS - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.20 earnings per share for the quarter, topping analysts' consensus estimates of $0.16 by $0.04. The firm had revenue of $304.60 million for the quarter, compared to analyst estimates of $297.83 million. Metallus had a negative net margin of 2.12% and a positive return on equity of 0.56%. As a group, analysts predict that Metallus Inc. will post 0.66 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MTUS shares. Wall Street Zen upgraded shares of Metallus from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. Northcoast Research started coverage on shares of Metallus in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $24.00 target price for the company. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, Metallus currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

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.

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