Metallus (NYSE:MTUS) Shares Gap Up – Still a Buy?

Metallus Inc. (NYSE:MTUS)’s stock price gapped up before the market opened on Monday. The stock had previously closed at $18.84, but opened at $19.50. Metallus shares last traded at $19.1570, with a volume of 46,391 shares traded.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Metallus in a research note on Friday, September 4th. KeyCorp reiterated a “sector weight” rating on shares of Metallus in a report on Wednesday, August 5th. Three analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Metallus Stock Performance

The company has a fifty day moving average price of $20.04 and a two-hundred day moving average price of $18.85. The company has a market cap of $789.00 million, a P/E ratio of 100.24, a PEG ratio of 1.51 and a beta of 1.36.

Metallus (NYSE:MTUS) last released its earnings results on Monday, August 3rd. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.02. Metallus had a return on equity of 3.35% and a net margin of 0.66%.The business had revenue of $261.40 million for the quarter, compared to analyst estimates of $330.85 million. Research analysts anticipate that Metallus Inc. will post 0.83 EPS for the current year.

Institutional Investors Weigh In On Metallus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement System of Ohio acquired a new stake in shares of Metallus in the 2nd quarter valued at approximately $37,000. State of Wyoming acquired a new position in Metallus during the second quarter worth $77,000. GAMMA Investing LLC increased its holdings in Metallus by 29.4% during the second quarter. GAMMA Investing LLC now owns 4,335 shares of the company’s stock worth $81,000 after buying an additional 986 shares during the last quarter. UNIVEST FINANCIAL Corp bought a new stake in Metallus during the second quarter worth $187,000. Finally, Caxton Associates LLP bought a new stake in Metallus during the first quarter worth $228,000. Institutional investors own 77.58% of the company’s stock.

About Metallus

Metallus, formerly known as TimkenSteel Corporation, is a manufacturer of specialty steel and steel products. The company produces alloy, carbon and microalloyed steels, with offerings that include special bar quality steel, seamless mechanical tubing and value-added steel components.

Its products are used in demanding applications across industries such as automotive, industrial equipment, energy, aerospace and defense. Metallus serves customers through manufacturing and service operations in the United States and internationally, supporting applications that require specialized material performance, strength and durability.

The company was established as an independent public business through the 2014 separation of TimkenSteel from The Timken Company.