Metallus (NYSE:MTUS) Trading 6% Higher - Time to Buy?

Key Points

• Metallus Inc. shares rose by 6% and traded at $18.24, despite a significant drop in trading volume compared to the average.
• Analyst ratings vary, with one "buy," one "hold," and one "sell" rating, giving the stock a consensus target price of $24.00.
• Insider trading showed COO and EVP selling shares, while institutional investors increased their stakes, with 77.58% of the company owned by hedge funds and institutions.

Metallus Inc. (NYSE:MTUS - Get Free Report) shares were up 6% during mid-day trading on Tuesday . The company traded as high as $18.02 and last traded at $18.24. Approximately 156,025 shares changed hands during mid-day trading, a decline of 56% from the average daily volume of 356,479 shares. The stock had previously closed at $17.21.

Analyst Upgrades and Downgrades

MTUS has been the topic of a number of recent research reports. Weiss Ratings reissued a "sell (d)" rating on shares of Metallus in a research report on Wednesday, October 8th. Northcoast Research started coverage on shares of Metallus in a research report on Wednesday, July 23rd. They issued a "buy" rating and a $24.00 price objective on the stock. Finally, Wall Street Zen raised shares of Metallus from a "sell" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $24.00.

Metallus Stock Performance

The company has a market cap of $750.64 million, a PE ratio of -35.18, a PEG ratio of 1.87 and a beta of 1.44. The stock's 50 day moving average price is $16.55 and its 200-day moving average price is $15.03.

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

Insiders Place Their Bets

In other Metallus news, COO Kristopher R. Westbrooks sold 4,000 shares of the business's stock in a transaction dated Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total transaction of $72,000.00. Following the sale, the chief operating officer directly owned 193,076 shares in the company, valued at $3,475,368. This represents a 2.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristine C. Syrvalin sold 7,500 shares of the stock in a transaction that occurred on Wednesday, July 23rd. The shares were sold at an average price of $18.00, for a total transaction of $135,000.00. Following the completion of the transaction, the executive vice president owned 89,910 shares in the company, valued at $1,618,380. This represents a 7.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 33,474 shares of company stock valued at $602,532 in the last 90 days. 3.60% of the stock is owned by insiders.

Institutional Trading of Metallus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC lifted its position in Metallus by 108.1% during the 1st quarter. GAMMA Investing LLC now owns 1,883 shares of the company's stock worth $25,000 after acquiring an additional 978 shares in the last quarter. CWM LLC grew its stake in Metallus by 60.2% during the 1st 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. Annis Gardner Whiting Capital Advisors LLC bought a new position in shares of Metallus in the first quarter worth $67,000. Huntington National Bank grew its stake in shares of Metallus by 85.1% in the second quarter. Huntington National Bank now owns 5,470 shares of the company's stock worth $84,000 after purchasing an additional 2,515 shares in the last quarter. Finally, Quantbot Technologies LP acquired a new stake in shares of Metallus in the second quarter valued at $110,000. Hedge funds and other institutional investors own 77.58% of the company's stock.

About Metallus

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.

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