Royce & Associates LP Sells 49,300 Shares of Metallus Inc. (NYSE:MTUS)

Key Points

• Royce & Associates LP reduced its stake in Metallus Inc. by 4.5%, holding approximately 1,043,468 shares valued at $13.94 million.
• Several hedge funds have increased their investments in Metallus, including Vanguard Group Inc., which raised its stake by 1.3% in the last quarter.
• Wall Street analysts have upgraded Metallus's stock rating, with Northcoast Research giving it a "buy" rating and setting a target price of $24.00.

Royce & Associates LP decreased its stake in shares of Metallus Inc. (NYSE:MTUS - Free Report) by 4.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,043,468 shares of the company's stock after selling 49,300 shares during the period. Royce & Associates LP owned about 2.48% of Metallus worth $13,941,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of MTUS. Millennium Management LLC bought a new position in shares of Metallus during the fourth quarter worth about $3,590,000. Ballast Asset Management LP bought a new position in shares of Metallus during the fourth quarter worth 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 worth $18,599,000 after purchasing an additional 137,007 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Metallus in the fourth quarter worth about $1,925,000. Finally, Northern Trust Corp lifted its holdings in Metallus by 27.8% in the fourth quarter. Northern Trust Corp now owns 518,790 shares of the company's stock worth $7,331,000 after acquiring an additional 112,758 shares during the last quarter. Institutional investors own 77.58% of the company's stock.

Insider Activity at Metallus

In related news, COO Kristopher R. Westbrooks sold 4,000 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 $72,000.00. Following the transaction, the chief operating officer owned 193,076 shares in the company, valued at $3,475,368. This trade represents a 2.03% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kristine C. Syrvalin sold 7,500 shares of the business's stock in a transaction dated Wednesday, July 23rd. The stock was sold at an average price of $18.00, for a total transaction of $135,000.00. Following the transaction, the executive vice president owned 89,910 shares in the company, valued at approximately $1,618,380. The trade was a 7.70% decrease in their position. 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. Insiders own 3.60% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MTUS shares. Wall Street Zen raised shares of Metallus from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. Sidoti raised shares of Metallus to a "hold" rating in a report on Friday, May 9th. Finally, Northcoast Research started coverage on Metallus in a report on Wednesday, July 23rd. They set a "buy" rating and a $24.00 price target on the stock.

Metallus Price Performance

Shares of NYSE MTUS traded down $0.12 during mid-day trading on Monday, reaching $16.89. 74,116 shares of the company traded hands, compared to its average volume of 378,345. Metallus Inc. has a fifty-two week low of $10.78 and a fifty-two week high of $22.78. The firm has a market cap of $711.03 million, a PE ratio of -33.77, a price-to-earnings-growth ratio of 1.40 and a beta of 1.37. The stock has a fifty day simple moving average of $14.84 and a 200-day simple moving average of $14.25.

Metallus (NYSE:MTUS - Get Free Report) last posted its quarterly earnings data 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). The firm had revenue of $280.50 million for the quarter, compared to analysts' expectations of $264.03 million. Metallus had a positive return on equity of 0.31% and a negative net margin of 2.05%. The company's revenue for the quarter was down 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. As a group, analysts predict that Metallus Inc. will post 0.66 EPS for the current fiscal 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.