Metallus (NYSE:MTUS) Shares Gap Down – Time to Sell?

Metallus Inc. (NYSE:MTUS) shares 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.

Analyst Ratings Changes

Several analysts recently weighed in on the company. KeyCorp restated a “sector weight” rating on shares of Metallus in a report on Wednesday, August 5th. Weiss Ratings upgraded shares of Metallus from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, June 8th. Three research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has an average rating of “Hold”.

Metallus Stock Up 3.7%

The company has a market cap of $811.47 million, a PE ratio of 103.04, a price-to-earnings-growth ratio of 1.52 and a beta of 1.36. The firm has a 50 day simple moving average of $19.94 and a 200-day simple moving average of $18.74.

Metallus (NYSE:MTUS) 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. The business had revenue of $261.40 million for the quarter, compared to analysts’ expectations of $330.85 million. Metallus had a net margin of 0.66% and a return on equity of 3.35%. As a group, equities analysts anticipate that Metallus Inc. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Metallus

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MTUS. Royal Bank of Canada increased its stake in Metallus by 1.2% during the 1st quarter. Royal Bank of Canada now owns 316,569 shares of the company’s stock valued at $4,229,000 after purchasing an additional 3,711 shares in the last quarter. Strs Ohio purchased a new stake in Metallus in the 1st quarter worth approximately $142,000. Quantbot Technologies LP purchased a new stake in Metallus during the second quarter worth $110,000. Quantinno Capital Management LP boosted its holdings in Metallus by 89.1% during the second quarter. Quantinno Capital Management LP now owns 25,414 shares of the company’s stock worth $392,000 after buying an additional 11,977 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Metallus by 51.2% during the second quarter. Ameriprise Financial Inc. now owns 655,372 shares of the company’s stock valued at $10,099,000 after buying an additional 221,828 shares during the period. 77.58% of the stock is currently owned by hedge funds and other 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.