Empowered Funds LLC Boosts Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Empowered Funds LLC grew its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 5.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,805 shares of the basic materials company’s stock after purchasing an additional 2,934 shares during the quarter. Empowered Funds LLC owned about 0.55% of Olympic Steel worth $1,995,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZEUS. nVerses Capital LLC bought a new position in Olympic Steel during the third quarter worth about $27,000. Point72 DIFC Ltd bought a new position in Olympic Steel during the third quarter worth about $184,000. HighTower Advisors LLC bought a new position in Olympic Steel during the third quarter worth about $202,000. SG Americas Securities LLC bought a new position in Olympic Steel during the third quarter worth about $245,000. Finally, Los Angeles Capital Management LLC boosted its position in Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ZEUS shares. StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th. KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a research report on Wednesday, January 22nd.

Olympic Steel Price Performance

ZEUS stock opened at $35.35 on Friday. The firm has a 50 day moving average of $34.81 and a 200-day moving average of $38.09. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 12 month low of $30.29 and a 12 month high of $73.49. The firm has a market capitalization of $393.45 million, a P/E ratio of 15.50 and a beta of 1.52.

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.