Olympic Steel (NASDAQ:ZEUS) Now Covered by Analysts at StockNews.com

Oct 01, 2023

Analysts at StockNews.com started coverage on shares of Olympic Steel (NASDAQ:ZEUS - Get Free Report) in a report issued on Thursday. The brokerage set a "buy" rating on the basic materials company's stock.

Shares of ZEUS stock opened at $49.81 on Thursday. Olympic Steel has a 1 year low of $22.62 and a 1 year high of $58.84. The firm has a fifty day moving average price of $50.03 and a 200-day moving average price of $48.81. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.69 and a quick ratio of 1.42. The company has a market cap of $554.53 million, a price-to-earnings ratio of 14.11 and a beta of 1.80.

A number of hedge funds have recently modified their holdings of the business. Dorsey Wright & Associates bought a new position in Olympic Steel in the 1st quarter worth $29,000. Quantbot Technologies LP boosted its holdings in Olympic Steel by 42.1% in the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock worth $43,000 after buying an additional 337 shares during the period. UBS Group AG boosted its holdings in Olympic Steel by 52.4% in the 2nd quarter. UBS Group AG now owns 2,820 shares of the basic materials company's stock worth $73,000 after buying an additional 970 shares during the period. Victory Capital Management Inc. bought a new position in Olympic Steel in the 4th quarter worth $81,000. Finally, Dark Forest Capital Management LP bought a new position in Olympic Steel in the 1st quarter worth $90,000. Institutional investors own 82.19% of the company's stock.

Olympic Steel, Inc processes, distributes, and stores 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 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.

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