Bank of New York Mellon Corp Has $3.29 Million Position in Metallus Inc. (NYSE:MTUS)

Key Points

• Bank of New York Mellon Corp has reduced its holdings in Metallus Inc. by 7.1% in the first quarter, now owning approximately 0.59% of the company's stock worth about $3.29 million.
• Several hedge funds, including Millennium Management and Northern Trust Corp, have either increased their stakes or initiated new positions in Metallus, with institutional investors owning a total of 77.58% of the stock.
• After reporting earnings per share of $0.07, Metallus Inc. missed analyst expectations and experienced a 12.8% revenue decline compared to the previous year, although revenue still surpassed estimates.

Bank of New York Mellon Corp lowered its holdings in Metallus Inc. (NYSE:MTUS - Free Report) by 7.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 246,394 shares of the company's stock after selling 18,924 shares during the period. Bank of New York Mellon Corp owned approximately 0.59% of Metallus worth $3,292,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. raised its position in Metallus by 5.0% during 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 purchased a new stake in shares of Metallus in the fourth quarter worth approximately $3,590,000. ProShare Advisors LLC acquired a new stake in shares of Metallus during the fourth quarter worth approximately $181,000. GAMMA Investing LLC grew its holdings in shares of Metallus by 2,679.8% during the 1st quarter. GAMMA Investing LLC now owns 25,157 shares of the company's stock valued at $336,000 after acquiring an additional 24,252 shares in the last quarter. Finally, Barclays PLC increased its stake in shares of Metallus by 72.7% in the fourth quarter. Barclays PLC now owns 120,045 shares of the company's stock worth $1,697,000 after acquiring an additional 50,543 shares during the last quarter. Hedge funds and other institutional investors own 77.58% of the company's stock.

Metallus Stock Down 1.1%

Shares of NYSE:MTUS traded down $0.18 on Wednesday, reaching $16.03. The company had a trading volume of 455,582 shares, compared to its average volume of 301,541. The stock has a market capitalization of $675.02 million, a P/E ratio of -32.06, a P/E/G ratio of 1.33 and a beta of 1.37. The stock has a 50-day moving average price of $15.04 and a 200 day moving average price of $14.29. Metallus Inc. has a twelve month low of $10.78 and a twelve month high of $22.78.

Metallus (NYSE:MTUS - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.04). Metallus had a positive return on equity of 0.31% and a negative net margin of 2.05%. The firm had revenue of $280.50 million during the quarter, compared to the consensus estimate of $264.03 million. During the same quarter last year, the business earned $0.56 EPS. The business's revenue was down 12.8% compared to the same quarter last year. On average, sell-side analysts predict that Metallus Inc. will post 0.66 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on MTUS shares. Northcoast Research initiated coverage on Metallus in a research note on Wednesday, July 23rd. They issued a "buy" rating and a $24.00 target price on the stock. Sidoti raised Metallus to a "hold" rating in a research note on Friday, May 9th. Finally, Wall Street Zen raised shares of Metallus from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th.

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 transaction of $395,532.00. Following the completion of the transaction, the chief accounting officer directly owned 48,889 shares in the company, valued at $880,002. The trade was a 31.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Kristine C. Syrvalin sold 7,500 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 $135,000.00. Following the transaction, the executive vice president directly owned 89,910 shares of the company's stock, valued at $1,618,380. This represents a 7.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 44,974 shares of company stock worth $786,532 in the last 90 days. 3.60% of the stock is owned by company insiders.

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.