Olympic Steel (NASDAQ:ZEUS) Downgraded by StockNews.com

Olympic Steel (NASDAQ:ZEUS) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Friday.

Olympic Steel Stock Down 0.6 %

Shares of NASDAQ ZEUS traded down $0.23 during trading on Friday, hitting $36.59. The stock had a trading volume of 65,435 shares, compared to its average volume of 116,054. The firm has a fifty day moving average of $38.75 and a two-hundred day moving average of $47.10. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. The company has a market capitalization of $407.25 million, a PE ratio of 11.77 and a beta of 1.46. Olympic Steel has a 12 month low of $34.81 and a 12 month high of $73.49.

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

Institutional Investors Weigh In On Olympic Steel

Institutional investors and hedge funds have recently modified their holdings of the company. nVerses Capital LLC bought a new position in shares of Olympic Steel in the third quarter worth approximately $27,000. Innealta Capital LLC bought a new stake in Olympic Steel in the second quarter valued at $58,000. EntryPoint Capital LLC bought a new stake in shares of Olympic Steel during the 1st quarter valued at $61,000. XTX Topco Ltd bought a new stake in shares of Olympic Steel during the 2nd quarter valued at $201,000. Finally, SG Americas Securities LLC bought a new stake in shares of Olympic Steel during the 3rd quarter valued at $245,000. 87.07% of the stock is 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.