Assenagon Asset Management S.A. Sells 25,680 Shares of Metallus Inc. $MTUS

Key Points

• Assenagon Asset Management S.A. has reduced its stake in Metallus Inc. by 18.2%, selling 25,680 shares, and now holds 115,294 shares valued at approximately $1.78 million.
• Metallus shares opened at $16.99 with a market capitalization of about $710.78 million and have shown a 1-year performance ranging from a low of $10.78 to a high of $18.17.
• Equities analysts have recently rated Metallus as a "Moderate Buy," with a consensus price target of $24.00, reflecting positive market sentiment despite previous sales by insiders.

Assenagon Asset Management S.A. decreased its holdings in Metallus Inc. (NYSE:MTUS - Free Report) by 18.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 115,294 shares of the company's stock after selling 25,680 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.27% of Metallus worth $1,777,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. lifted its holdings in Metallus by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,610 shares of the company's stock valued at $235,000 after buying an additional 839 shares during the period. Millennium Management LLC acquired a new position in Metallus in the fourth quarter valued at $3,590,000. ProShare Advisors LLC acquired a new position in Metallus in the fourth quarter valued at $181,000. GAMMA Investing LLC lifted its holdings in Metallus by 2,679.8% in the first quarter. GAMMA Investing LLC now owns 25,157 shares of the company's stock valued at $336,000 after buying an additional 24,252 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in Metallus in the first quarter valued at $142,000. Institutional investors own 77.58% of the company's stock.

Metallus Trading Up 1.7%

Shares of NYSE MTUS opened at $16.99 on Friday. The firm's 50-day moving average price is $16.34 and its 200-day moving average price is $14.65. Metallus Inc. has a 1-year low of $10.78 and a 1-year high of $18.17. The firm has a market capitalization of $710.78 million, a P/E ratio of -33.32, a P/E/G ratio of 1.89 and a beta of 1.46.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on MTUS shares. Wall Street Zen upgraded shares of Metallus from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Northcoast Research started coverage on shares of Metallus in a report on Wednesday, July 23rd. They issued a "buy" rating and a $24.00 target price on the stock. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Metallus presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.00.

Insider Activity

In other news, COO Kristopher R. Westbrooks sold 4,000 shares of the company's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total transaction of $72,000.00. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Nicholas A. Yacobozzi sold 21,974 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.00, for a total transaction of $395,532.00. Following the sale, the chief accounting officer directly owned 48,889 shares of the company's stock, valued at approximately $880,002. The trade was a 31.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 44,974 shares of company stock worth $786,532. Company insiders own 3.60% of the company's stock.

Metallus Profile

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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