Invesco Ltd. Sells 30,147 Shares of Metallus Inc. $MTUS

Key Points

• Invesco Ltd. has reduced its stake in Metallus Inc. by 8.2%, selling 30,147 shares during the first quarter, holding a total of 337,418 shares valued at approximately $4.51 million.
• Metallus reported $0.20 earnings per share, exceeding analysts' expectations of $0.16, with quarterly revenue of $304.60 million surpassing estimates.
• Institutional investors own 77.58% of Metallus stock, with multiple firms increasing their positions in the company during the fourth quarter.

Invesco Ltd. reduced its holdings in Metallus Inc. (NYSE:MTUS - Free Report) by 8.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 337,418 shares of the company's stock after selling 30,147 shares during the quarter. Invesco Ltd. owned 0.80% of Metallus worth $4,508,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its stake in Metallus by 5.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,610 shares of the company's stock worth $235,000 after purchasing an additional 839 shares during the period. Millennium Management LLC acquired a new position in shares of Metallus during the fourth quarter worth about $3,590,000. ProShare Advisors LLC acquired a new position in shares of Metallus during the fourth quarter worth about $181,000. GAMMA Investing LLC boosted its position in shares of Metallus by 2,679.8% during the first quarter. GAMMA Investing LLC now owns 25,157 shares of the company's stock worth $336,000 after buying an additional 24,252 shares during the period. Finally, Barclays PLC boosted its position in shares of Metallus by 72.7% during the fourth quarter. Barclays PLC now owns 120,045 shares of the company's stock worth $1,697,000 after buying an additional 50,543 shares during the period. 77.58% of the stock is currently owned by institutional investors.

Insider Activity at Metallus

In other news, COO Kristopher R. Westbrooks sold 4,000 shares of the firm'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 $72,000.00. Following the completion of the sale, the chief operating officer directly owned 193,076 shares of the company's stock, valued at $3,475,368. This trade represents a 2.03% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Nicholas A. Yacobozzi sold 21,974 shares of the firm'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 value of $395,532.00. Following the completion of the sale, the chief accounting officer directly owned 48,889 shares of the company's stock, valued at approximately $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.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Wall Street Zen raised Metallus from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Sidoti raised Metallus to a "hold" rating in a research report on Friday, May 9th. Finally, Northcoast Research assumed coverage on Metallus in a research report on Wednesday, July 23rd. They set a "buy" rating and a $24.00 price objective for the company. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.00.

Metallus Stock Performance

NYSE MTUS traded down $0.10 during trading hours on Tuesday, hitting $16.33. 231,380 shares of the company traded hands, compared to its average volume of 370,014. The business's 50-day moving average is $16.06 and its 200-day moving average is $14.43. Metallus Inc. has a twelve month low of $10.78 and a twelve month high of $18.17. The stock has a market capitalization of $682.92 million, a price-to-earnings ratio of -32.05, a P/E/G ratio of 1.86 and a beta of 1.46.

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

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.