Azarias Capital Management L.P. Acquires 73,263 Shares of Metallus Inc. $MTUS

Key Points

• Azarias Capital Management L.P. increased its stake in Metallus Inc. by 14.1%, acquiring an additional 73,263 shares to hold a total of 593,036 shares, making Metallus its 5th largest investment.
• Metallus reported a quarterly EPS of $0.20, exceeding expectations, with revenue of $304.60 million, surpassing the consensus estimate of $297.83 million.
• Insider trading activity showed significant sell-offs, with the CAO and COO both selling shares at an average price of $18.00, resulting in reductions in their ownership stakes.

Azarias Capital Management L.P. raised its holdings in Metallus Inc. (NYSE:MTUS - Free Report) by 14.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 593,036 shares of the company's stock after buying an additional 73,263 shares during the period. Metallus accounts for about 4.2% of Azarias Capital Management L.P.'s portfolio, making the stock its 5th largest holding. Azarias Capital Management L.P. owned about 1.41% of Metallus worth $9,139,000 as of its most recent SEC filing.

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

Metallus Trading Down 0.3%

MTUS opened at $16.87 on Friday. Metallus Inc. has a 1-year low of $10.78 and a 1-year high of $18.17. The stock has a market cap of $705.71 million, a PE ratio of -33.08, a price-to-earnings-growth ratio of 1.91 and a beta of 1.44. The stock's fifty day simple moving average is $16.31 and its 200 day simple moving average is $14.76.

Metallus (NYSE:MTUS - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The company reported $0.20 EPS 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 the consensus estimate of $297.83 million. Equities analysts forecast that Metallus Inc. will post 0.66 earnings per share for the current year.

Insider Activity at Metallus

In other news, CAO Nicholas A. Yacobozzi sold 21,974 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 value of $395,532.00. Following the transaction, the chief accounting officer owned 48,889 shares of the company's stock, valued at approximately $880,002. This represents a 31.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Kristopher R. Westbrooks sold 4,000 shares of the company's stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total value of $72,000.00. Following the completion of the transaction, the chief operating officer directly owned 193,076 shares in the company, valued at $3,475,368. The trade was a 2.03% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 33,474 shares of company stock worth $602,532. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

MTUS has been the topic of a number of recent analyst reports. Northcoast Research initiated coverage on shares of Metallus in a report on Wednesday, July 23rd. They set a "buy" rating and a $24.00 target price on the stock. Wall Street Zen upgraded shares of Metallus from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Finally, Weiss Ratings restated a "sell (d)" rating on shares of Metallus in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus 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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