Metallus (NYSE:MTUS) Shares Gap Down - Here's Why

Key Points

• Metallus shares fell at the open, dropping from a prior close of $19.52 to $18.60 before recovering slightly to about $18.95.
• Analysts maintain a cautious outlook, with all three tracked analysts rating the stock “Hold”; Weiss Ratings recently upgraded its hold assessment, while KeyCorp reiterated “sector weight.”
• Metallus beat quarterly EPS estimates, reporting $0.26 versus $0.24 expected, but revenue of $261.4 million significantly missed the $330.85 million consensus estimate. Institutional investors own 77.58% of the company.

Metallus Inc. (NYSE:MTUS - Get Free Report) gapped down before the market opened on Tuesday . The stock had previously closed at $19.52, but opened at $18.60. Metallus shares last traded at $18.9480, with a volume of 60,858 shares changing hands.

Analysts Set New Price Targets

MTUS has been the subject of several recent research reports. Weiss Ratings raised shares of Metallus from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, June 8th. KeyCorp reiterated a "sector weight" rating on shares of Metallus in a research note on Wednesday, August 5th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Metallus Stock Performance

The stock has a market cap of $772.42 million, a P/E ratio of 98.11, a price-to-earnings-growth ratio of 1.57 and a beta of 1.36. The company's 50 day moving average price is $19.95 and its 200-day moving average price is $18.77.

Metallus (NYSE:MTUS - Get Free Report) last released its quarterly earnings results on Monday, August 3rd. The company reported $0.26 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.02. Metallus had a net margin of 0.66% and a return on equity of 3.35%. The company had revenue of $261.40 million for the quarter, compared to analyst estimates of $330.85 million. On average, analysts forecast that Metallus Inc. will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Metallus

Several institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new stake in shares of Metallus during the second quarter valued at approximately $108,942,000. Vanguard Group Inc. grew its stake in Metallus by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 2,880,168 shares of the company's stock valued at $49,424,000 after purchasing an additional 20,295 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Metallus by 1.2% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,933,739 shares of the company's stock valued at $31,964,000 after purchasing an additional 23,596 shares during the period. Renaissance Technologies LLC increased its position in shares of Metallus by 9.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,059,033 shares of the company's stock valued at $18,173,000 after purchasing an additional 90,200 shares during the last quarter. Finally, Donald Smith & CO. Inc. raised its stake in shares of Metallus by 49.6% during the 4th quarter. Donald Smith & CO. Inc. now owns 963,671 shares of the company's stock worth $16,537,000 after purchasing an additional 319,465 shares during the period. 77.58% of the stock is owned by institutional investors.

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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