Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC lessened its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 29,684 shares of the basic materials company’s stock after selling 436 shares during the quarter. Janney Montgomery Scott LLC owned 0.27% of Olympic Steel worth $974,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. JPMorgan Chase & Co. grew its stake in Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock worth $8,365,000 after buying an additional 123,632 shares during the period. Jane Street Group LLC lifted its holdings in shares of Olympic Steel by 1,165.8% during the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock valued at $7,884,000 after acquiring an additional 186,192 shares in the last quarter. Walleye Capital LLC purchased a new stake in Olympic Steel during the 3rd quarter worth $3,978,000. Assenagon Asset Management S.A. increased its holdings in Olympic Steel by 1,020.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company’s stock valued at $2,306,000 after purchasing an additional 53,857 shares in the last quarter. Finally, Empowered Funds LLC raised its position in Olympic Steel by 5.4% in the third quarter. Empowered Funds LLC now owns 57,871 shares of the basic materials company’s stock valued at $2,257,000 after purchasing an additional 2,948 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Price Performance

ZEUS opened at $35.01 on Thursday. Olympic Steel, Inc. has a twelve month low of $30.29 and a twelve month high of $73.49. The firm has a market cap of $389.77 million, a price-to-earnings ratio of 15.36 and a beta of 1.52. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The company has a fifty day simple moving average of $35.79 and a 200 day simple moving average of $38.71.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ZEUS. StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. KeyCorp upgraded Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price target for the company in a report on Wednesday, January 22nd.

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.