Victory Capital Management Inc. Cuts Stock Position in Metallus Inc. (NYSE:MTUS)

Key Points

• Victory Capital Management Inc. has decreased its stake in Metallus Inc. (NYSE:MTUS) by 11.0%, selling 15,480 shares and now owning a total of 125,419 shares worth about $1.68 million.
• Despite its quarterly earnings report showing a miss on EPS estimates and a 12.8% decline in revenue year-over-year, Metallus reported revenue of $280.5 million, exceeding analysts' expectations of $264.03 million.
• Several institutional investors have adjusted their positions in Metallus, with GAMMA Investing LLC significantly increasing its stake by 2,679.8% during the same quarter.

Victory Capital Management Inc. trimmed its holdings in shares of Metallus Inc. (NYSE:MTUS - Free Report) by 11.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 125,419 shares of the company's stock after selling 15,480 shares during the quarter. Victory Capital Management Inc. owned 0.30% of Metallus worth $1,676,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. GAMMA Investing LLC increased its position in shares of Metallus by 108.1% during the first quarter. GAMMA Investing LLC now owns 1,883 shares of the company's stock valued at $25,000 after acquiring an additional 978 shares during the last quarter. Quadrant Capital Group LLC increased its position in Metallus by 36.3% in the fourth quarter. Quadrant Capital Group LLC now owns 2,943 shares of the company's stock worth $42,000 after buying an additional 783 shares during the last quarter. CWM LLC increased its position in Metallus by 60.2% in the first quarter. CWM LLC now owns 3,421 shares of the company's stock worth $46,000 after buying an additional 1,286 shares during the last quarter. Tower Research Capital LLC TRC increased its position in Metallus by 103.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,775 shares of the company's stock worth $67,000 after buying an additional 2,431 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in Metallus in the first quarter worth $142,000. 77.58% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Transactions at Metallus

In related news, CAO Nicholas A. Yacobozzi sold 21,974 shares of Metallus stock in a transaction on Wednesday, July 23rd. The stock was sold at an average price of $18.00, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the chief operating officer directly owned 193,076 shares of the company's stock, valued at $3,475,368. This represents a 2.03% decrease in their position. The disclosure for this sale can be found here. Insiders sold 44,974 shares of company stock valued at $786,532 over the last three months. Company insiders own 3.60% of the company's stock.

Metallus Price Performance

Shares of Metallus stock traded down $0.76 during trading hours on Friday, reaching $15.04. The company had a trading volume of 506,909 shares, compared to its average volume of 311,189. Metallus Inc. has a one year low of $10.78 and a one year high of $20.22. The business has a fifty day simple moving average of $15.16 and a 200 day simple moving average of $14.31. The firm has a market cap of $633.33 million, a PE ratio of -30.08, a price-to-earnings-growth ratio of 1.30 and a beta of 1.42.

Metallus (NYSE:MTUS - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.07 EPS for the quarter, missing analysts' consensus estimates of $0.11 by ($0.04). Metallus had a positive return on equity of 0.31% and a negative net margin of 2.05%. The company had revenue of $280.50 million during the quarter, compared to the consensus estimate of $264.03 million. During the same period in the previous year, the business earned $0.56 earnings per share. Metallus's revenue was down 12.8% on a year-over-year basis. On average, research analysts forecast that Metallus Inc. will post 0.66 EPS for the current year.

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.