StockNews.com Lowers Olympic Steel (NASDAQ:ZEUS) to Hold

Olympic Steel (NASDAQ:ZEUS) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Friday.

Olympic Steel Trading Down 0.6 %

Shares of Olympic Steel stock opened at $36.59 on Friday. The firm has a market cap of $407.25 million, a price-to-earnings ratio of 11.77 and a beta of 1.46. Olympic Steel has a 52-week low of $34.81 and a 52-week high of $73.49. The company’s 50-day simple moving average is $38.75 and its 200-day simple moving average is $46.93. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $526.25 million for the quarter. Olympic Steel had a return on equity of 4.98% and a net margin of 1.74%. During the same quarter in the previous year, the firm posted $1.24 EPS.

Institutional Investors Weigh In On Olympic Steel

Several institutional investors have recently made changes to their positions in the stock. nVerses Capital LLC acquired a new stake in shares of Olympic Steel in the third quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in shares of Olympic Steel during the 2nd quarter worth approximately $58,000. EntryPoint Capital LLC purchased a new stake in shares of Olympic Steel during the 1st quarter worth approximately $61,000. XTX Topco Ltd acquired a new stake in shares of Olympic Steel in the 2nd quarter worth approximately $201,000. Finally, SG Americas Securities LLC purchased a new position in Olympic Steel in the 3rd quarter valued at approximately $245,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. 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.