Alambic Investment Management L.P. decreased its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 49.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,197 shares of the basic materials company’s stock after selling 21,295 shares during the period. Alambic Investment Management L.P.’s holdings in Olympic Steel were worth $477,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of ZEUS. The Manufacturers Life Insurance Company increased its stake in shares of Olympic Steel by 12.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after purchasing an additional 934 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Olympic Steel by 0.3% in the second quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock worth $246,000 after purchasing an additional 39 shares in the last quarter. Citigroup Inc. increased its stake in shares of Olympic Steel by 4.0% in the second quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock worth $251,000 after purchasing an additional 490 shares in the last quarter. Algert Global LLC purchased a new position in shares of Olympic Steel in the third quarter worth about $261,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Olympic Steel in the third quarter worth about $264,000. Hedge funds and other institutional investors own 68.20% of the company’s stock.
ZEUS has been the subject of several recent research reports. BidaskClub upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating in a research note on Tuesday, January 16th. Zacks Investment Research upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a research note on Wednesday, November 8th. Finally, KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a research note on Friday, November 24th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. Olympic Steel currently has an average rating of “Hold” and a consensus price target of $20.50.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.15 by $0.05. The company had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. Olympic Steel’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.16) earnings per share. equities analysts forecast that Olympic Steel, Inc. will post 1.27 EPS for the current year.
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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.
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