BlackRock Inc. Purchases New Position in Metallus Inc. $MTUS

Key Points

• BlackRock purchased 5.83 million Metallus shares in the second quarter, worth approximately $108.9 million, giving it a 14.06% stake. Institutional investors collectively own 77.58% of the company.
• Metallus reported quarterly EPS of $0.26, exceeding the $0.24 consensus estimate, but revenue of $261.4 million fell well short of the $330.85 million forecast. Analysts maintain a consensus “Hold” rating.
• MTUS shares opened at $19.54, down 1.8%, with a market capitalization of about $809.9 million and a 12-month trading range of $14.19 to $22.58.

BlackRock Inc. purchased a new stake in Metallus Inc. (NYSE:MTUS - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,828,871 shares of the company's stock, valued at approximately $108,942,000. BlackRock Inc. owned about 14.06% of Metallus as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in MTUS. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of Metallus during the 3rd quarter worth approximately $33,000. iSAM Funds UK Ltd purchased a new position in shares of Metallus in the 3rd quarter valued at $53,000. State of Wyoming acquired a new stake in Metallus during the 2nd quarter worth $77,000. GAMMA Investing LLC raised its stake in Metallus by 29.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,335 shares of the company's stock worth $81,000 after acquiring an additional 986 shares in the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Metallus in the second quarter valued at $110,000. Institutional investors and hedge funds own 77.58% of the company's stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. KeyCorp restated a "sector weight" rating on shares of Metallus in a research note on Wednesday, August 5th. Weiss Ratings raised Metallus from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 8th. Three equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Metallus presently has a consensus rating of "Hold".

Metallus Trading Down 1.8%

Shares of MTUS opened at $19.54 on Friday. The company's 50 day simple moving average is $19.95 and its 200-day simple moving average is $18.80. The firm has a market cap of $809.93 million, a PE ratio of 102.85, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36. Metallus Inc. has a 12-month low of $14.19 and a 12-month high of $22.58.

Metallus (NYSE:MTUS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $261.40 million during the quarter, compared to the consensus estimate of $330.85 million. Metallus had a net margin of 0.66% and a return on equity of 3.35%. As a group, equities research analysts forecast that Metallus Inc. will post 0.83 EPS for the current fiscal year.

Metallus Profile

Metallus, Inc NYSE: MTUS is an industrial metals recycling and distribution company that acquires, processes and markets a wide array of ferrous and non-ferrous materials. Its product portfolio includes stainless steel, nickel alloys, aluminum and other specialty metals sourced from manufacturing scrap, obsolete products and post-consumer waste streams. Metallus provides services such as shredding, sorting, melting and baling, enabling its customers to optimize metal recovery and streamline supply chains.

Headquartered in Philadelphia, Pennsylvania, the company operates processing facilities and distribution centers across the United States, facilitating efficient logistics and regional collection of metal grades.

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