Olympic Steel, Inc. (NASDAQ:ZEUS) shares hit a new 52-week low during trading on Friday . The company traded as low as $18.04 and last traded at $18.19, with a volume of 3207 shares trading hands. The stock had previously closed at $18.90.
A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. ValuEngine cut shares of Olympic Steel from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Finally, BidaskClub cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th.
The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 3.67. The stock has a market cap of $212.02 million, a P/E ratio of 15.38 and a beta of 1.71.
In related news, Director Arthur F. Anton acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was purchased at an average price of $23.37 per share, with a total value of $233,700.00. Following the completion of the purchase, the director now owns 28,778 shares in the company, valued at approximately $672,541.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 18.29% of the stock is owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new stake in shares of Olympic Steel during the second quarter valued at approximately $171,000. New York State Common Retirement Fund boosted its stake in shares of Olympic Steel by 96.3% during the first quarter. New York State Common Retirement Fund now owns 21,197 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 10,397 shares during the period. Globeflex Capital L P boosted its stake in shares of Olympic Steel by 13.5% during the second quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock valued at $533,000 after purchasing an additional 3,100 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Olympic Steel by 44.7% during the second quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 8,500 shares during the period. Finally, Scopus Asset Management L.P. purchased a new stake in shares of Olympic Steel during the second quarter valued at approximately $616,000. 67.05% of the stock is owned by hedge funds and other institutional investors.
About Olympic Steel (NASDAQ:ZEUS)
Olympic Steel, Inc processes and distributes 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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