Olympic Steel (NASDAQ:ZEUS) was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a note issued to investors on Thursday.
A number of other brokerages have also commented on ZEUS. BidaskClub lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Zacks Investment Research lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, August 17th.
Shares of NASDAQ:ZEUS opened at $18.86 on Thursday. Olympic Steel has a 12 month low of $17.40 and a 12 month high of $25.84. The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 3.67. The stock has a market cap of $200.68 million, a price-to-earnings ratio of 15.98 and a beta of 1.71.
In related news, Director Arthur F. Anton acquired 10,000 shares of the firm’s stock in a transaction on Monday, August 6th. The shares were purchased at an average price of $23.37 per share, with a total value of $233,700.00. Following the acquisition, the director now directly owns 28,778 shares in the company, valued at $672,541.86. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 18.28% of the stock is owned by corporate insiders.
A number of large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its holdings in Olympic Steel by 5.1% during the 3rd quarter. Acadian Asset Management LLC now owns 216,964 shares of the basic materials company’s stock worth $4,528,000 after acquiring an additional 10,528 shares during the last quarter. First Trust Advisors LP bought a new position in shares of Olympic Steel in the 3rd quarter valued at about $290,000. United Services Automobile Association boosted its stake in shares of Olympic Steel by 61.3% in the 2nd quarter. United Services Automobile Association now owns 56,597 shares of the basic materials company’s stock valued at $1,155,000 after purchasing an additional 21,500 shares during the last quarter. Putnam Investments LLC boosted its stake in shares of Olympic Steel by 895.2% in the 2nd quarter. Putnam Investments LLC now owns 124,400 shares of the basic materials company’s stock valued at $2,539,000 after purchasing an additional 111,900 shares during the last quarter. Finally, Scopus Asset Management L.P. bought a new position in shares of Olympic Steel in the 2nd quarter valued at about $616,000. 65.79% of the stock is currently owned by hedge funds and other institutional investors.
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.
Further Reading: Why is the ex-dividend date different from the record date?
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.