Metallus (NYSE:MTUS) Hits New 52-Week High After Better-Than-Expected Earnings

Shares of Metallus Inc. (NYSE:MTUS) reached a new 52-week high on Tuesday following a better than expected earnings announcement. The company traded as high as $21.84 and last traded at $21.7780, with a volume of 385734 shares trading hands. The stock had previously closed at $20.45.

The company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $261.40 million during the quarter, compared to analyst estimates of $330.85 million. Metallus had a return on equity of 2.96% and a net margin of 0.24%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Weiss Ratings upgraded Metallus from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, June 8th. Zacks Research raised Metallus from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Three investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, Metallus presently has an average rating of “Hold”.

Institutional Trading of Metallus

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. purchased a new stake in Metallus in the 3rd quarter worth $33,000. iSAM Funds UK Ltd bought a new position in shares of Metallus during the 3rd quarter valued at approximately $53,000. GAMMA Investing LLC raised its holdings in Metallus by 29.4% during the 2nd quarter. GAMMA Investing LLC now owns 4,335 shares of the company’s stock valued at $81,000 after buying an additional 986 shares during the period. Quantbot Technologies LP bought a new stake in Metallus in the second quarter worth $110,000. Finally, Strs Ohio purchased a new position in Metallus during the first quarter worth $142,000. 77.58% of the stock is currently owned by institutional investors.

Metallus Stock Up 4.3%

The company has a market capitalization of $888.18 million, a PE ratio of 306.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.36. The firm’s 50 day simple moving average is $19.61 and its 200 day simple moving average is $18.72.

Metallus Company Profile

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.