Olympic Steel (NASDAQ:ZEUS) Upgraded to Hold at ValuEngine
Separately, Zacks Investment Research cut shares of Olympic Steel from a “hold” rating to a “sell” rating in a report on Sunday.
ZEUS stock traded up $0.48 on Thursday, hitting $15.50. The company had a trading volume of 87,724 shares, compared to its average volume of 76,170. Olympic Steel has a 12-month low of $9.99 and a 12-month high of $21.94. The company has a current ratio of 4.75, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The stock’s 50-day simple moving average is $11.39 and its 200 day simple moving average is $14.16. The stock has a market cap of $136.46 million, a price-to-earnings ratio of 4.42 and a beta of 2.15.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. United Services Automobile Association raised its position in Olympic Steel by 4.5% in the second quarter. United Services Automobile Association now owns 66,997 shares of the basic materials company’s stock worth $915,000 after acquiring an additional 2,900 shares during the period. D. E. Shaw & Co. Inc. raised its position in Olympic Steel by 29.2% in the second quarter. D. E. Shaw & Co. Inc. now owns 63,708 shares of the basic materials company’s stock worth $870,000 after acquiring an additional 14,394 shares during the period. Zebra Capital Management LLC bought a new position in Olympic Steel in the second quarter worth approximately $228,000. Invesco Ltd. raised its position in Olympic Steel by 27.0% in the second quarter. Invesco Ltd. now owns 242,498 shares of the basic materials company’s stock worth $3,310,000 after acquiring an additional 51,541 shares during the period. Finally, Vanguard Group Inc. raised its position in Olympic Steel by 21.7% in the second quarter. Vanguard Group Inc. now owns 804,006 shares of the basic materials company’s stock worth $10,975,000 after acquiring an additional 143,100 shares during the period. Institutional investors and hedge funds own 67.57% of the company’s stock.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
Recommended Story: Limitations of analyzing profit margin
To view ValuEngine’s full report, visit ValuEngine’s official website.
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.