Olympic Steel (NASDAQ:ZEUS) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Olympic Steel (NASDAQ:ZEUS – Get Rating) in a research note issued on Thursday. The brokerage set a “buy” rating on the basic materials company’s stock.

Olympic Steel Stock Performance

Olympic Steel stock opened at $46.86 on Thursday. The company has a debt-to-equity ratio of 0.32, a current ratio of 4.00 and a quick ratio of 1.46. The stock has a fifty day moving average price of $45.84 and a two-hundred day moving average price of $34.91. Olympic Steel has a 52-week low of $22.62 and a 52-week high of $58.84. The firm has a market capitalization of $521.55 million, a P/E ratio of 5.95 and a beta of 1.80.

Insiders Place Their Bets

In other Olympic Steel news, Chairman Michael D. Siegal sold 75,000 shares of the stock in a transaction on Thursday, March 2nd. The stock was sold at an average price of $56.12, for a total transaction of $4,209,000.00. Following the completion of the transaction, the chairman now directly owns 1,127,072 shares in the company, valued at $63,251,280.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 15.73% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ZEUS. Quantbot Technologies LP increased its stake in shares of Olympic Steel by 42.1% in the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after buying an additional 337 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Olympic Steel by 2.4% in the fourth quarter. Legal & General Group Plc now owns 20,393 shares of the basic materials company’s stock valued at $685,000 after buying an additional 475 shares in the last quarter. New York State Teachers Retirement System increased its stake in shares of Olympic Steel by 3.1% in the third quarter. New York State Teachers Retirement System now owns 22,441 shares of the basic materials company’s stock valued at $512,000 after buying an additional 670 shares in the last quarter. Zebra Capital Management LLC increased its stake in shares of Olympic Steel by 5.7% in the first quarter. Zebra Capital Management LLC now owns 13,046 shares of the basic materials company’s stock valued at $502,000 after buying an additional 698 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in shares of Olympic Steel by 4.7% in the third quarter. Price T Rowe Associates Inc. MD now owns 15,698 shares of the basic materials company’s stock valued at $359,000 after buying an additional 701 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Company Profile

(Get Rating)

Olympic Steel, Inc engages in the processing, sale, and distribution of metal products. It operates through the following segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. The Carbon Flat Products segment includes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts.