Northcoast Research Begins Coverage on Metallus (NYSE:MTUS)

Stock analysts at Northcoast Research assumed coverage on shares of Metallus (NYSE:MTUS - Get Free Report) in a research note issued to investors on Wednesday, MarketBeat reports. The firm set a "buy" rating and a $24.00 price target on the stock. Northcoast Research's price objective points to a potential upside of 41.26% from the company's current price.

A number of other analysts have also commented on MTUS. Wall Street Zen raised Metallus from a "sell" rating to a "hold" rating in a research report on Saturday, July 5th. Sidoti upgraded Metallus to a "hold" rating in a research note on Friday, May 9th.

Metallus Stock Performance

Shares of NYSE MTUS traded up $0.21 during trading hours on Wednesday, reaching $16.99. 285,678 shares of the stock were exchanged, compared to its average volume of 345,974. The stock's fifty day simple moving average is $14.77 and its 200 day simple moving average is $14.21. Metallus has a 52 week low of $10.78 and a 52 week high of $22.78. The firm has a market capitalization of $715.41 million, a price-to-earnings ratio of -33.98, a P/E/G ratio of 1.38 and a beta of 1.37.

Metallus (NYSE:MTUS - Get Free Report) last released 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). Metallus had a negative net margin of 2.05% and a positive return on equity of 0.31%. The firm had revenue of $280.50 million for the quarter, compared to analyst estimates of $264.03 million. During the same period last year, the business earned $0.56 EPS. The company's revenue was down 12.8% compared to the same quarter last year. Research analysts predict that Metallus will post 0.66 EPS for the current fiscal year.

Insider Activity

In related news, CAO Nicholas A. Yacobozzi sold 21,974 shares of the company'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 $395,532.00. Following the sale, the chief accounting officer owned 48,889 shares in the company, valued at $880,002. This represents a 31.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Kristopher R. Westbrooks sold 4,000 shares of the 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 directly owned 193,076 shares in the company, valued at $3,475,368. The trade was a 2.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,974 shares of company stock valued at $786,532. 3.60% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Metallus

Large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. purchased a new stake in shares of Metallus during the 2nd quarter worth about $308,000. Azarias Capital Management L.P. boosted its stake in shares of Metallus by 14.1% during the 2nd quarter. Azarias Capital Management L.P. now owns 593,036 shares of the company's stock worth $9,139,000 after acquiring an additional 73,263 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of Metallus by 6.1% during the 2nd quarter. State of Alaska Department of Revenue now owns 21,990 shares of the company's stock worth $338,000 after purchasing an additional 1,270 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of Metallus during the 2nd quarter worth about $1,872,000. Finally, Voya Investment Management LLC raised its position in shares of Metallus by 47.1% during the 1st quarter. Voya Investment Management LLC now owns 78,811 shares of the company's stock worth $1,053,000 after purchasing an additional 25,223 shares during the last quarter. 77.58% of the stock is owned by institutional investors and hedge funds.

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.