Olympic Steel (NASDAQ:ZEUS) Stock Rating Upgraded by StockNews.com

Olympic Steel (NASDAQ:ZEUSGet Rating) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a report released on Tuesday.

ZEUS stock opened at $36.78 on Tuesday. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.52 and a quick ratio of 1.36. The company has a market capitalization of $409.14 million, a PE ratio of 3.50 and a beta of 1.63. Olympic Steel has a 1 year low of $19.92 and a 1 year high of $43.18. The company has a fifty day moving average of $33.29.

Olympic Steel (NASDAQ:ZEUSGet Rating) last announced its quarterly earnings results on Thursday, February 24th. The basic materials company reported $2.79 earnings per share (EPS) for the quarter. Olympic Steel had a net margin of 5.24% and a return on equity of 35.85%. The company had revenue of $624.59 million during the quarter. During the same period last year, the firm posted $0.14 EPS. Analysts predict that Olympic Steel will post 4.22 EPS for the current fiscal year.

In related news, COO Andrew S. Greiff acquired 2,500 shares of Olympic Steel stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average price of $28.79 per share, with a total value of $71,975.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Wolfort sold 29,700 shares of the company’s stock in a transaction dated Tuesday, March 8th. The stock was sold at an average price of $30.13, for a total transaction of $894,861.00. The disclosure for this sale can be found here. Insiders own 17.40% of the company’s stock.

Several large investors have recently bought and sold shares of ZEUS. Invesco Ltd. boosted its position in shares of Olympic Steel by 92.5% during the 4th quarter. Invesco Ltd. now owns 703,442 shares of the basic materials company’s stock valued at $16,531,000 after purchasing an additional 338,049 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of Olympic Steel during the 4th quarter valued at about $3,803,000. Putnam Investments LLC boosted its position in shares of Olympic Steel by 181.3% during the 3rd quarter. Putnam Investments LLC now owns 129,420 shares of the basic materials company’s stock valued at $3,153,000 after purchasing an additional 83,420 shares in the last quarter. Morgan Stanley boosted its position in shares of Olympic Steel by 54.0% during the 2nd quarter. Morgan Stanley now owns 218,385 shares of the basic materials company’s stock valued at $6,418,000 after purchasing an additional 76,600 shares in the last quarter. Finally, MAI Capital Management bought a new position in shares of Olympic Steel during the 4th quarter valued at about $1,613,000. Institutional investors own 72.95% of the company’s stock.

About Olympic Steel (Get Rating)

Olympic Steel, Inc processes, distributes, and storage 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.

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