Metallus (NYSE:MTUS) Hits New 12-Month High on Strong Earnings

Metallus Inc. (NYSE:MTUS)’s stock price hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $18.50 and last traded at $17.9150, with a volume of 28432 shares traded. The stock had previously closed at $17.25.

The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.11. Metallus had a positive return on equity of 0.56% and a negative net margin of 2.12%.The business had revenue of $241.90 million during the quarter, compared to analyst estimates of $307.90 million.

Analyst Ratings Changes

A number of research firms have commented on MTUS. Northcoast Research assumed coverage on Metallus in a research note on Wednesday, July 23rd. They set a “buy” rating and a $24.00 price target on the stock. Weiss Ratings reissued a “sell (d)” rating on shares of Metallus in a research note on Wednesday, October 8th. Finally, Wall Street Zen upgraded Metallus from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. One analyst has rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $24.00.

Institutional Investors Weigh In On Metallus

Institutional investors have recently added to or reduced their stakes in the business. Cambridge Investment Research Advisors Inc. boosted its stake in Metallus by 5.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,610 shares of the company’s stock valued at $235,000 after acquiring an additional 839 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Metallus by 108.1% in the 1st quarter. GAMMA Investing LLC now owns 1,883 shares of the company’s stock valued at $25,000 after purchasing an additional 978 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in shares of Metallus by 6.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 18,585 shares of the company’s stock valued at $286,000 after purchasing an additional 1,169 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Metallus by 6.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 21,990 shares of the company’s stock valued at $338,000 after purchasing an additional 1,270 shares during the period. Finally, 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. Hedge funds and other institutional investors own 77.58% of the company’s stock.

Metallus Stock Down 1.0%

The firm has a 50-day simple moving average of $16.93 and a 200 day simple moving average of $15.52. The company has a market cap of $714.39 million, a price-to-earnings ratio of -33.49, a price-to-earnings-growth ratio of 2.02 and a beta of 1.48.

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.