Bank of New York Mellon Corp Lowers Position in Metallus Inc. (NYSE:MTUS)

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

A number of other hedge funds also recently added to or reduced their stakes in MTUS. Millennium Management LLC purchased a new stake in shares of Metallus during the fourth quarter valued at about $3,590,000. Ballast Asset Management LP purchased a new stake in shares of Metallus during the fourth quarter valued at about $1,978,000. American Century Companies Inc. lifted its position in shares of Metallus by 11.6% during the fourth quarter. American Century Companies Inc. now owns 1,316,292 shares of the company's stock valued at $18,599,000 after buying an additional 137,007 shares during the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Metallus in the 4th quarter valued at approximately $1,925,000. Finally, Northern Trust Corp raised its position in shares of Metallus by 27.8% in the 4th quarter. Northern Trust Corp now owns 518,790 shares of the company's stock valued at $7,331,000 after purchasing an additional 112,758 shares during the last quarter. 77.58% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MTUS has been the subject of several research analyst reports. Wall Street Zen raised shares of Metallus from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Northcoast Research began coverage on shares of Metallus in a report on Wednesday. They issued a "buy" rating and a $24.00 price target on the stock. Finally, Sidoti upgraded shares of Metallus to a "hold" rating in a report on Friday, May 9th.

Metallus Stock Up 1.3%

NYSE MTUS opened at $16.99 on Friday. Metallus Inc. has a 52 week low of $10.78 and a 52 week high of $22.78. The business's fifty day simple moving average is $14.84 and its 200-day simple moving average is $14.23. The firm has a market cap of $715.45 million, a PE ratio of -33.98, a P/E/G ratio of 1.40 and a beta of 1.37.

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

Insider Buying and Selling

In other Metallus news, CAO Nicholas A. Yacobozzi sold 21,974 shares of the business'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 completion of the sale, the chief accounting officer owned 48,889 shares in the company, valued at approximately $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 this hyperlink. Also, EVP Kristine C. Syrvalin sold 7,500 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 $135,000.00. Following the sale, the executive vice president owned 89,910 shares of the company's stock, valued at $1,618,380. This trade 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 over the last 90 days. 3.60% of the stock is owned by insiders.

Metallus Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.