Massachusetts Financial Services Co. MA Lowers Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Massachusetts Financial Services Co. MA cut its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUSFree Report) by 3.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 40,266 shares of the basic materials company’s stock after selling 1,543 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Olympic Steel were worth $2,263,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Barclays PLC boosted its holdings in Olympic Steel by 29.3% during the third quarter. Barclays PLC now owns 10,896 shares of the basic materials company’s stock worth $611,000 after buying an additional 2,468 shares in the last quarter. Illinois Municipal Retirement Fund purchased a new stake in Olympic Steel during the third quarter worth $341,000. Versor Investments LP purchased a new stake in Olympic Steel during the third quarter worth $247,000. Assenagon Asset Management S.A. purchased a new stake in Olympic Steel during the third quarter worth $2,816,000. Finally, Victory Capital Management Inc. boosted its holdings in Olympic Steel by 196.4% during the third quarter. Victory Capital Management Inc. now owns 7,138 shares of the basic materials company’s stock worth $401,000 after buying an additional 4,730 shares in the last quarter. 83.60% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Stock Performance

ZEUS opened at $69.15 on Monday. The company has a quick ratio of 1.34, a current ratio of 3.44 and a debt-to-equity ratio of 0.36. The company has a market cap of $769.64 million, a price-to-earnings ratio of 19.48 and a beta of 1.65. Olympic Steel, Inc. has a 52-week low of $40.85 and a 52-week high of $69.77. The firm’s fifty day simple moving average is $64.18 and its two-hundred day simple moving average is $56.19.

Wall Street Analyst Weigh In

Separately, TheStreet raised shares of Olympic Steel from a “c+” rating to a “b” rating in a report on Wednesday, November 1st.

Check Out Our Latest Research Report on Olympic Steel

About Olympic Steel

(Free Report)

Olympic Steel, Inc processes, distributes, and stores 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 company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.

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Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

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