Invenomic Capital Management LP Purchases Shares of 651,273 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 purchased a new stake in 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 (SEC). The fund purchased 651,273 shares of the company's stock, valued at approximately $8,701,000. Invenomic Capital Management LP owned approximately 1.55% of Metallus as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. American Century Companies Inc. raised its holdings in shares of Metallus by 9.5% in the first quarter. American Century Companies Inc. now owns 1,441,326 shares of the company's stock valued at $19,256,000 after purchasing an additional 125,034 shares during the last quarter. Systematic Financial Management LP raised its holdings in shares of Metallus by 13.2% in the first quarter. Systematic Financial Management LP now owns 1,308,514 shares of the company's stock valued at $17,482,000 after purchasing an additional 152,217 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Metallus by 5.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,152,634 shares of the company's stock valued at $16,286,000 after purchasing an additional 62,055 shares during the last quarter. Northern Trust Corp increased its holdings in Metallus by 27.8% during the fourth quarter. Northern Trust Corp now owns 518,790 shares of the company's stock worth $7,331,000 after buying an additional 112,758 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in Metallus by 14.3% during the first quarter. Charles Schwab Investment Management Inc. now owns 516,695 shares of the company's stock worth $6,903,000 after buying an additional 64,743 shares during the last quarter. 77.58% of the stock is currently owned by institutional investors and hedge funds.

Metallus Stock Performance

NYSE:MTUS opened at $16.77 on Friday. The company has a market capitalization of $701.28 million, a PE ratio of -32.87, a P/E/G ratio of 1.85 and a beta of 1.46. The company has a 50 day simple moving average of $16.15 and a two-hundred day simple moving average of $14.46. Metallus Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $18.17.

Metallus (NYSE:MTUS - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. The company had revenue of $304.60 million during the quarter, compared to the consensus estimate of $297.83 million. Metallus had a negative net margin of 2.12% and a positive return on equity of 0.56%. Research analysts predict that Metallus Inc. will post 0.66 EPS for the current year.

Analyst Ratings Changes

MTUS has been the topic of a number of recent analyst reports. Wall Street Zen upgraded shares of Metallus from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Sidoti upgraded shares of Metallus to a "hold" rating in a report on Friday, May 9th. Finally, 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. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $24.00.

Insider Activity at Metallus

In related news, CAO Nicholas A. Yacobozzi sold 21,974 shares of Metallus stock in a transaction on Wednesday, July 23rd. The shares were 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 of the company's stock, valued at approximately $880,002. This trade represents a 31.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Kristine C. Syrvalin sold 7,500 shares of the firm's stock in a transaction on Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total value of $135,000.00. Following the transaction, the executive vice president owned 89,910 shares in the company, valued at approximately $1,618,380. This trade represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 44,974 shares of company stock valued at $786,532. 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.

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