Metallus (NYSE:MTUS) Cut to Strong Sell at Zacks Research

Metallus (NYSE:MTUS) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Several other analysts have also issued reports on the stock. Weiss Ratings reiterated a “sell (d)” rating on shares of Metallus in a research note on Wednesday, October 8th. Wall Street Zen raised shares of Metallus from a “hold” rating to a “buy” rating in a research report on Saturday, December 13th. One investment analyst has rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $24.00.

Metallus Stock Up 3.7%

Shares of Metallus stock opened at $17.80 on Thursday. Metallus has a 52 week low of $10.78 and a 52 week high of $19.19. The business has a 50 day moving average price of $17.24 and a 200-day moving average price of $16.61. The company has a market cap of $741.45 million, a PE ratio of -93.69, a price-to-earnings-growth ratio of 0.98 and a beta of 1.47.

Metallus (NYSE:MTUS) last announced its quarterly earnings results on Thursday, November 6th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.11. The business had revenue of $241.90 million during the quarter, compared to the consensus estimate of $307.90 million. Metallus had a positive return on equity of 2.94% and a negative net margin of 0.73%. As a group, research analysts anticipate that Metallus will post 0.66 EPS for the current year.

Hedge Funds Weigh In On Metallus

Several institutional investors and hedge funds have recently bought and sold shares of MTUS. Wexford Capital LP raised its stake in shares of Metallus by 2.0% in the third quarter. Wexford Capital LP now owns 105,543 shares of the company’s stock valued at $1,745,000 after buying an additional 2,041 shares during the period. Verition Fund Management LLC purchased a new stake in Metallus in the 3rd quarter worth about $291,000. Northwestern Mutual Wealth Management Co. bought a new stake in Metallus in the 3rd quarter valued at about $33,000. Millennium Management LLC raised its stake in Metallus by 103.3% in the 3rd quarter. Millennium Management LLC now owns 186,476 shares of the company’s stock valued at $3,082,000 after acquiring an additional 94,737 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Metallus by 1.2% during the third 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 last quarter. 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.