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Aug 27, 2023

Olympic Steel (NASDAQ:ZEUS) Earns Hold Rating from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Olympic Steel (NASDAQ:ZEUS - Get

StockNews.com initiated coverage on shares of Olympic Steel (NASDAQ:ZEUS - Get Rating) in a research note issued to investors on Thursday. The firm set a "hold" rating on the basic materials company's stock.

Shares of ZEUS stock opened at $42.51 on Thursday. The stock has a market cap of $473.14 million, a price-to-earnings ratio of 7.74 and a beta of 1.78. The business's fifty day moving average is $48.68 and its 200 day moving average is $42.26. Olympic Steel has a twelve month low of $22.62 and a twelve month high of $58.84. The company has a quick ratio of 1.39, a current ratio of 3.56 and a debt-to-equity ratio of 0.49.

Olympic Steel (NASDAQ:ZEUS - Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The basic materials company reported $0.27 earnings per share for the quarter, topping the consensus estimate of $0.21 by $0.06. The company had revenue of $520.04 million for the quarter, compared to analysts' expectations of $578.90 million. Olympic Steel had a return on equity of 13.10% and a net margin of 2.61%. Research analysts expect that Olympic Steel will post 3.6 EPS for the current fiscal year.

In other 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 value of $4,209,000.00. Following the sale, the chairman now directly owns 1,127,072 shares of the company's stock, valued at $63,251,280.64. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 13.81% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the stock. Dorsey Wright & Associates bought a new position in shares of Olympic Steel during the first quarter valued at $29,000. Quantbot Technologies LP lifted its holdings in shares of Olympic Steel by 42.1% during the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock valued at $43,000 after purchasing an additional 337 shares in the last quarter. Ellevest Inc. lifted its holdings in shares of Olympic Steel by 56.7% during the third quarter. Ellevest Inc. now owns 2,039 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 738 shares in the last quarter. UBS Group AG lifted its holdings in shares of Olympic Steel by 52.4% during the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company's stock valued at $73,000 after purchasing an additional 970 shares in the last quarter. Finally, Victory Capital Management Inc. bought a new position in shares of Olympic Steel during the fourth quarter valued at $81,000. 77.46% of the stock is owned by hedge funds and other institutional investors.

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.

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