Olympic Steel (ZEUS) Lifted to “Sell” at ValuEngine
ValuEngine upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a strong sell rating to a sell rating in a research report sent to investors on Monday.
Separately, Zacks Investment Research downgraded Olympic Steel from a hold rating to a sell rating in a report on Saturday, November 3rd.
Shares of NASDAQ ZEUS opened at $19.45 on Monday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.95 and a quick ratio of 1.50. The firm has a market cap of $213.70 million, a price-to-earnings ratio of 16.48 and a beta of 2.09. Olympic Steel has a twelve month low of $13.72 and a twelve month high of $25.84.
In related news, VP Richard A. Manson purchased 2,500 shares of the business’s stock in a transaction dated Wednesday, November 28th. The shares were acquired at an average cost of $17.00 per share, for a total transaction of $42,500.00. Following the acquisition, the vice president now owns 9,897 shares of the company’s stock, valued at approximately $168,249. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Richard T. Marabito purchased 3,000 shares of the business’s stock in a transaction dated Thursday, December 6th. The stock was bought at an average price of $17.15 per share, for a total transaction of $51,450.00. Following the completion of the acquisition, the chief financial officer now directly owns 33,614 shares in the company, valued at approximately $576,480.10. The disclosure for this purchase can be found here. Company insiders own 18.28% of the company’s stock.
Large investors have recently made changes to their positions in the company. Bank of Montreal Can increased its holdings in shares of Olympic Steel by 11.1% in the 4th quarter. Bank of Montreal Can now owns 10,432 shares of the basic materials company’s stock valued at $150,000 after acquiring an additional 1,039 shares during the period. Arizona State Retirement System increased its holdings in shares of Olympic Steel by 6.2% in the 4th quarter. Arizona State Retirement System now owns 14,070 shares of the basic materials company’s stock valued at $201,000 after acquiring an additional 816 shares during the period. Victory Capital Management Inc. increased its holdings in shares of Olympic Steel by 4.1% in the 4th quarter. Victory Capital Management Inc. now owns 15,017 shares of the basic materials company’s stock valued at $214,000 after acquiring an additional 586 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Olympic Steel in the 4th quarter valued at $238,000. Finally, Algert Global LLC purchased a new position in shares of Olympic Steel in the 4th quarter valued at $258,000. Institutional investors and hedge funds own 66.34% 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.
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