14,370 Shares in Olympic Steel, Inc. (ZEUS) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd acquired a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 14,370 shares of the basic materials company’s stock, valued at approximately $280,000. Dynamic Technology Lab Private Ltd owned 0.13% of Olympic Steel at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company lifted its stake in shares of Olympic Steel by 12.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 934 shares during the period. Comerica Bank lifted its stake in shares of Olympic Steel by 4.6% in the 1st quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock valued at $192,000 after purchasing an additional 438 shares during the period. Capstone Asset Management Co. lifted its stake in shares of Olympic Steel by 5.4% in the 2nd quarter. Capstone Asset Management Co. now owns 11,526 shares of the basic materials company’s stock valued at $225,000 after purchasing an additional 590 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of Olympic Steel by 29.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 12,637 shares of the basic materials company’s stock valued at $235,000 after purchasing an additional 2,879 shares during the period. Finally, Citigroup Inc. lifted its stake in shares of Olympic Steel by 4.0% in the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 490 shares during the period. Institutional investors and hedge funds own 68.10% of the company’s stock.

Olympic Steel, Inc. (NASDAQ ZEUS) opened at 19.49 on Tuesday. The company has a 50 day moving average of $20.15 and a 200 day moving average of $18.64. Olympic Steel, Inc. has a 1-year low of $15.83 and a 1-year high of $28.67. The firm has a market capitalization of $213.75 million, a PE ratio of 25.61 and a beta of 1.74.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.41 by $0.06. Olympic Steel had a return on equity of 2.82% and a net margin of 0.71%. The firm had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $365.00 million. During the same period in the prior year, the company earned $0.32 earnings per share. Analysts forecast that Olympic Steel, Inc. will post $1.32 EPS for the current year.

In other Olympic Steel news, COO Andrew S. Greiff bought 3,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was purchased at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the completion of the purchase, the chief operating officer now directly owns 9,021 shares of the company’s stock, valued at $160,122.75. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CFO Richard T. Marabito bought 2,000 shares of the business’s stock in a transaction on Friday, August 11th. The shares were acquired at an average price of $17.42 per share, with a total value of $34,840.00. Following the completion of the purchase, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at $533,295.88. The disclosure for this purchase can be found here. 18.29% of the stock is owned by corporate insiders.

Several equities analysts recently issued reports on the stock. Zacks Investment Research cut shares of Olympic Steel from a “strong-buy” rating to a “hold” rating in a research note on Saturday, August 19th. KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a research note on Tuesday, September 19th. Finally, Jefferies Group LLC reiterated a “hold” rating on shares of Olympic Steel in a research note on Friday, July 7th. One analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $21.75.

ILLEGAL ACTIVITY NOTICE: This story was reported by Community Financial News and is the property of of Community Financial News. If you are reading this story on another domain, it was illegally copied and republished in violation of US & international copyright laws. The original version of this story can be read at https://www.com-unik.info/2017/10/31/14370-shares-in-olympic-steel-inc-zeus-acquired-by-dynamic-technology-lab-private-ltd.html.

Olympic Steel Company Profile

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

Want to see what other hedge funds are holding ZEUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olympic Steel, Inc. (NASDAQ:ZEUS).

Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

What are top analysts saying about Olympic Steel Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Olympic Steel Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit