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.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, November 8th. The basic materials company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.36. Olympic Steel had a return on equity of 13.22% and a net margin of 2.46%. The business had revenue of $457.00 million during the quarter, compared to analyst estimates of $452.60 million. During the same period in the previous year, the company posted $0.20 EPS. Olympic Steel’s revenue was up 37.9% on a year-over-year basis. Research analysts expect that Olympic Steel will post 3.55 earnings per share for the current fiscal year.

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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