Metallus (NYSE:MTUS) Announces Earnings Results, Beats Expectations By $0.02 EPS

Key Points

• Metallus reported quarterly EPS of $0.26, beating the consensus estimate of $0.24 by $0.02. The company posted a 0.24% net margin and 2.96% return on equity.
• Shares rose 1.8% to $20.48, near the stock’s 12-month high of $21.74. Metallus has a market capitalization of approximately $852.7 million and a notably high P/E ratio of 292.67.
• Institutional investors own 77.58% of the company, with several firms recently increasing their positions. Analysts maintain a consensus “Hold” rating, despite recent upgrades from Zacks Research and Weiss Ratings.

Metallus (NYSE:MTUS - Get Free Report) released its quarterly earnings results on Monday. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.02, Zacks reports. Metallus had a net margin of 0.24% and a return on equity of 2.96%.

Metallus Stock Up 1.8%

Metallus stock traded up $0.36 during trading hours on Monday, hitting $20.48. The stock had a trading volume of 299,192 shares, compared to its average volume of 389,613. The stock's 50-day moving average price is $19.58 and its 200-day moving average price is $18.71. The stock has a market capitalization of $852.71 million, a P/E ratio of 292.67, a price-to-earnings-growth ratio of 1.59 and a beta of 1.36. Metallus has a 12-month low of $14.19 and a 12-month high of $21.74.

Institutional Investors Weigh In On Metallus

Several institutional investors and hedge funds have recently made changes to their positions in the company. OpenArc Corporate Advisory LLC purchased a new position in shares of Metallus in the fourth quarter worth $7,026,000. Ameriprise Financial Inc. boosted its holdings in Metallus by 51.2% in the second quarter. Ameriprise Financial Inc. now owns 655,372 shares of the company's stock worth $10,099,000 after purchasing an additional 221,828 shares during the last quarter. Invesco Ltd. boosted its holdings in Metallus by 71.7% in the fourth quarter. Invesco Ltd. now owns 496,150 shares of the company's stock worth $8,514,000 after purchasing an additional 207,227 shares during the last quarter. Manatuck Hill Partners LLC bought a new stake in Metallus in the 2nd quarter worth approximately $2,312,000. Finally, Charles Schwab Investment Management Inc. grew its position in Metallus by 17.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 881,941 shares of the company's stock worth $15,134,000 after purchasing an additional 130,752 shares during the period. Institutional investors own 77.58% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MTUS shares. Zacks Research upgraded shares of Metallus from a "strong sell" rating to a "hold" rating in a research report on Monday, April 27th. Weiss Ratings upgraded Metallus from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, June 8th. Three analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of "Hold".

About Metallus

Metallus, Inc NYSE: MTUS is an industrial metals recycling and distribution company that acquires, processes and markets a wide array of ferrous and non-ferrous materials. Its product portfolio includes stainless steel, nickel alloys, aluminum and other specialty metals sourced from manufacturing scrap, obsolete products and post-consumer waste streams. Metallus provides services such as shredding, sorting, melting and baling, enabling its customers to optimize metal recovery and streamline supply chains.

Headquartered in Philadelphia, Pennsylvania, the company operates processing facilities and distribution centers across the United States, facilitating efficient logistics and regional collection of metal grades.

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