Metallus (NYSE:MTUS) Shares Up 4% – Still a Buy?

Metallus Inc. (NYSE:MTUS) shot up 4% during trading on Tuesday . The stock traded as high as $20.50 and last traded at $20.3450. 262,687 shares changed hands during mid-day trading, a decline of 13% from the average session volume of 300,505 shares. The stock had previously closed at $19.56.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research upgraded Metallus from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Weiss Ratings cut Metallus from a “hold (c)” rating to a “hold (c-)” rating in a research note on Friday, May 22nd. KeyCorp assumed coverage on Metallus in a research note on Wednesday, March 25th. They issued a “sector weight” rating on the stock. Finally, Wall Street Zen cut Metallus from a “buy” rating to a “hold” rating in a research note on Saturday, February 28th. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $24.00.

Metallus Price Performance

The company has a market capitalization of $846.96 million, a PE ratio of 290.68, a PEG ratio of 1.34 and a beta of 1.35. The company has a 50 day moving average of $17.90 and a two-hundred day moving average of $18.05.

Metallus (NYSE:MTUS) last issued its quarterly earnings results on Monday, May 4th. The company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.05. The company had revenue of $238.30 million for the quarter, compared to analysts’ expectations of $303.47 million. Metallus had a return on equity of 2.96% and a net margin of 0.24%. On average, equities analysts anticipate that Metallus Inc. will post 0.97 EPS for the current year.

Institutional Investors Weigh In On Metallus

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CSM Advisors LLC purchased a new stake in Metallus in the third quarter worth $4,415,000. Orchard Capital Management LLC purchased a new stake in Metallus in the third quarter worth $1,498,000. Unison Advisors LLC purchased a new stake in Metallus in the fourth quarter worth $724,000. American Century Companies Inc. grew its stake in Metallus by 2.5% in the third quarter. American Century Companies Inc. now owns 1,539,129 shares of the company’s stock worth $25,442,000 after purchasing an additional 37,552 shares during the period. Finally, Skylands Capital LLC grew its stake in Metallus by 26.2% in the third quarter. Skylands Capital LLC now owns 184,300 shares of the company’s stock worth $3,046,000 after purchasing an additional 38,250 shares during the period. 77.58% of the stock is 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.