Metallus (NYSE:MTUS) Shares Gap Down – Here’s What Happened

Metallus Inc. (NYSE:MTUS) shares gapped down before the market opened on Friday . The stock had previously closed at $15.96, but opened at $14.93. Metallus shares last traded at $15.23, with a volume of 50,865 shares trading hands.

Metallus Stock Down 1.6 %

The firm has a 50 day simple moving average of $14.82 and a two-hundred day simple moving average of $18.62. The stock has a market capitalization of $682.76 million, a P/E ratio of 13.54, a PEG ratio of 1.14 and a beta of 1.36.

Metallus (NYSE:MTUS) last announced its quarterly earnings data on Thursday, August 8th. The company reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.39 by ($0.24). Metallus had a return on equity of 10.10% and a net margin of 4.21%. The business had revenue of $294.70 million for the quarter, compared to the consensus estimate of $320.37 million. During the same quarter in the prior year, the company earned $0.60 earnings per share. Metallus’s quarterly revenue was down 17.4% compared to the same quarter last year. On average, research analysts predict that Metallus Inc. will post 0.96 earnings per share for the current year.

Hedge Funds Weigh In On Metallus

Institutional investors have recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new stake in Metallus in the third quarter valued at approximately $49,000. Amalgamated Bank acquired a new stake in shares of Metallus during the 3rd quarter valued at $172,000. Creative Planning bought a new stake in Metallus during the 3rd quarter worth $183,000. SG Americas Securities LLC acquired a new position in Metallus in the 3rd quarter worth about $189,000. Finally, Beese Fulmer Investment Management Inc. bought a new position in Metallus in the third quarter valued at about $233,000. 77.58% of the stock is currently owned by institutional investors and hedge funds.

About Metallus

Metallus Inc manufactures and sells alloy steel, and carbon and micro-alloy steel products in the United States and internationally. The company offers special bar quality (SBQ) bars, seamless mechanical tubes, precision steel components, and billets that are used in gears, hubs, axles, crankshafts and motor shafts, oil country drill pipes, bits and collars, bearing races and rolling elements, bushings, fuel injectors, wind energy shafts, anti-friction bearings, artillery and mortar bodies, and other applications.