Assenagon Asset Management S.A. Reduces Stake in Metallus Inc. (NYSE:MTUS)

Assenagon Asset Management S.A. has recently decreased its investment in Metallus Inc. (NYSE:MTUS - Free Report) by 23.7% during the fourth quarter. According to the latest report submitted to the Securities and Exchange Commission (SEC), the firm now holds 155,296 shares after selling 48,159 shares in that timeframe. As per the most recent SEC filing, Assenagon Asset Management S.A. possesses 0.37% of Metallus, which is valued at approximately $2,194,000.

In addition to Assenagon, several other institutional investors and hedge funds have also modified their holdings in Metallus. SG Americas Securities LLC acquired a new position in Metallus worth $189,000 during the third quarter. Similarly, Farmers Trust Co. invested about $609,000 in a new stake in the same quarter. Inspire Investing LLC and Exchange Traded Concepts LLC also made new acquisitions valued at around $414,000 and $942,000, respectively. Lastly, Creative Planning added a new position worth about $183,000 in the third quarter. Overall, institutional investors now possess 77.58% of Metallus's stock.

Metallus Stock Performance

On Thursday, shares of Metallus (NYSE:MTUS) opened at $14.69. The company's stock has a 50-day moving average of $15.07 and a 200-day moving average of $16.17. Metallus has a market capitalization of approximately $623.97 million. The company's price-to-earnings ratio stands at 28.24, with a price-to-earnings-growth ratio of 1.03 and a beta of 1.39. The stock has seen a 52-week low of $13.09 and a high of $24.31.

Metallus last reported its quarterly earnings on November 7th, revealing an earnings per share (EPS) loss of $0.09, which fell short of the consensus estimate of $0.06 by $0.15. The company achieved a return on equity of 6.15% and recorded a net margin of 2.05%. The revenue for the quarter totaled $227.20 million, compared to the analysts' expectations of $278.30 million. In the same quarter last year, the firm posted earnings per share of $0.52. Analysts anticipate Metallus Inc. will report an EPS of 0.64 for the current fiscal year.

About Metallus Inc.

Metallus Inc. is engaged in the production and sale of alloy steel and carbon and micro-alloy steel products in both the United States and international markets. Their offerings include special bar quality (SBQ) bars, seamless mechanical tubes, precision steel components, and billets. These products are utilized in various applications such as gears, hubs, axles, crankshafts, motor shafts, oil country drill pipes, bits and collars, bearing races, anti-friction bearings, wind energy shafts, and even artillery components.

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Curious about which hedge funds are investing in MTUS? Check the latest 13F filings and insider trades for Metallus Inc. (NYSE:MTUS - Free Report) online.

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