Olympic Steel (NASDAQ:ZEUS – Get a Rating) was upgraded by stock analysts StockNews.com from a “hold” rating to a “buy” rating in a report released Tuesday.
Olympic Steel Awards Performance
Shares of ZEUS traded down $0.61 during trading hours on Tuesday, hitting $25.89. 84,656 shares of the company were traded, against an average volume of 89,893. Olympic Steel has a 52-week low of $19.92 and a 52-week high of $43.18. The stock has a market capitalization of $288.10 million, a price-earnings ratio of 2.07 and a beta of 1.72. The company has a debt ratio of 0.58, a current ratio of 3.50 and a quick ratio of 1.41. The stock’s 50-day moving average is $27.82 and its 200-day moving average is $31.14.
Institutional entries and exits
Several institutional investors have recently bought and sold shares of ZEUS. Quantbot Technologies LP increased its stake in Olympic Steel shares by 42.1% in Q1. Quantbot Technologies LP now owns 1,137 shares of the basic materials company valued at $43,000 after buying 337 additional shares during the period. Ellevest Inc. increased its position in Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company worth $42,000 after purchasing an additional 502 shares during the period. Janney Montgomery Scott LLC increased its position in Olympic Steel by 2.7% during the second quarter. Janney Montgomery Scott LLC now owns 19,490 shares of the basic materials company valued at $511,000 after purchasing an additional 510 shares during the period. The Tennessee State Treasury Department increased its position in Olympic Steel by 17.8% in the first quarter. The Tennessee State Treasury Department now owns 3,447 shares of the basic materials company valued at $133,000 after purchasing an additional 522 shares during the period. Finally, Zebra Capital Management LLC increased its stake in Olympic Steel shares by 5.7% in the 1st quarter. Zebra Capital Management LLC now owns 13,046 shares of the basic materials company valued at $502,000 after buying 698 additional shares in the last quarter. Institutional investors hold 78.53% of the company’s shares.
About Olympic Steel
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Olympic Steel, Inc processes, distributes and stocks metal products in the United States and around the world. It operates in three segments: Carbon Flat Products; Flat products in special metals; and tubular and piping products. The Carbon Flat Products segment sells and distributes carbon flat rolled and coated sheets, coil and plate products and fabricated parts.
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