New York Life Investment Management LLC Makes New Investment in Olympic Steel, Inc. $ZEUS

New York Life Investment Management LLC acquired a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 15,012 shares of the basic materials company’s stock, valued at approximately $642,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Versor Investments LP bought a new position in Olympic Steel during the 4th quarter worth $5,067,000. Bailard Inc. bought a new position in shares of Olympic Steel in the 4th quarter valued at $347,000. ABC Arbitrage SA bought a new position in shares of Olympic Steel in the 4th quarter valued at $6,730,000. Ethic Inc. increased its stake in shares of Olympic Steel by 32.5% in the 4th quarter. Ethic Inc. now owns 15,480 shares of the basic materials company’s stock valued at $662,000 after purchasing an additional 3,796 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Olympic Steel by 368.4% in the 4th quarter. Strs Ohio now owns 8,900 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 7,000 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

Shares of ZEUS opened at $47.86 on Thursday. Olympic Steel, Inc. has a 52-week low of $27.11 and a 52-week high of $52.65. The business’s fifty day moving average is $47.86 and its 200-day moving average is $45.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12. The firm has a market cap of $535.94 million, a price-to-earnings ratio of 40.91 and a beta of 1.75.

About Olympic Steel

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.