Invenomic Capital Management LP Takes $8.70 Million Position in Metallus Inc. $MTUS

Key Points

• Invenomic Capital Management LP acquired a significant stake in Metallus Inc., purchasing 651,273 shares valued at approximately $8.7 million, representing about 1.55% of the company's total shares.
• Other institutional investors, such as American Century Companies Inc. and Systematic Financial Management LP, also increased their holdings during the first quarter, contributing to 77.58% of the stock being owned by institutional investors.
• Metallus reported a quarterly EPS of $0.20, exceeding expectations and showing a revenue of approximately $304.6 million, with analysts predicting a future EPS of 0.66 for the current year.

Invenomic Capital Management LP bought a new stake in shares of Metallus Inc. (NYSE:MTUS - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 651,273 shares of the company's stock, valued at approximately $8,701,000. Invenomic Capital Management LP owned approximately 1.55% of Metallus at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of MTUS. GAMMA Investing LLC boosted its stake in shares of Metallus by 108.1% during the 1st quarter. GAMMA Investing LLC now owns 1,883 shares of the company's stock valued at $25,000 after purchasing an additional 978 shares in the last quarter. CWM LLC boosted its stake in shares of Metallus by 60.2% during the 1st quarter. CWM LLC now owns 3,421 shares of the company's stock valued at $46,000 after purchasing an additional 1,286 shares in the last quarter. Tower Research Capital LLC TRC boosted its stake in shares of Metallus by 103.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,775 shares of the company's stock valued at $67,000 after purchasing an additional 2,431 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC bought a new stake in shares of Metallus during the 1st quarter valued at about $67,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Metallus during the 1st quarter valued at about $142,000. Institutional investors own 77.58% of the company's stock.

Metallus Stock Up 1.3%

Metallus stock traded up $0.22 during trading hours on Wednesday, hitting $16.54. The stock had a trading volume of 71,145 shares, compared to its average volume of 368,311. The stock has a market capitalization of $691.80 million, a P/E ratio of -32.47, a price-to-earnings-growth ratio of 1.90 and a beta of 1.46. Metallus Inc. has a 12-month low of $10.78 and a 12-month high of $18.17. The stock's 50-day moving average price is $16.22 and its 200-day moving average price is $14.47.

Metallus (NYSE:MTUS - Get Free Report) last issued its earnings results on Thursday, August 7th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.04. The business had revenue of $304.60 million during the quarter, compared to analysts' expectations of $297.83 million. Metallus had a negative net margin of 2.12% and a positive return on equity of 0.56%. On average, research analysts expect that Metallus Inc. will post 0.66 EPS for the current fiscal year.

Insiders Place Their Bets

In other Metallus news, EVP Kristine C. Syrvalin sold 7,500 shares of Metallus stock in a transaction dated Wednesday, July 2nd. The shares were sold at an average price of $16.00, for a total value of $120,000.00. Following the completion of the transaction, the executive vice president directly owned 97,410 shares of the company's stock, valued at approximately $1,558,560. The trade was a 7.15% decrease in their ownership of the stock. The sale was disclosed in a filing 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 that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total transaction of $395,532.00. Following the transaction, the chief accounting officer directly owned 48,889 shares of the company's stock, valued at $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 ninety days, insiders sold 44,974 shares of company stock valued at $786,532. Insiders own 3.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MTUS. Northcoast Research began coverage on shares of Metallus in a research note on Wednesday, July 23rd. They set a "buy" rating and a $24.00 target price on the stock. Wall Street Zen raised shares of Metallus from a "sell" rating to a "hold" rating in a research note on Saturday, July 5th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, Metallus has an average rating of "Moderate Buy" and an average price target of $24.00.

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.