KLP Kapitalforvaltning AS Sells 1,800 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

KLP Kapitalforvaltning AS lowered its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 10.8% in the 1st quarter, HoldingsChannel reports. The firm owned 14,900 shares of the basic materials company’s stock after selling 1,800 shares during the quarter. KLP Kapitalforvaltning AS’s holdings in Olympic Steel were worth $470,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. GAMMA Investing LLC raised its holdings in shares of Olympic Steel by 3,455.5% in the 1st quarter. GAMMA Investing LLC now owns 13,333 shares of the basic materials company’s stock valued at $423,000 after purchasing an additional 12,958 shares in the last quarter. Prudential Financial Inc. grew its position in shares of Olympic Steel by 27.4% in the 4th quarter. Prudential Financial Inc. now owns 99,433 shares of the basic materials company’s stock worth $3,262,000 after buying an additional 21,403 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Olympic Steel by 59.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,345 shares of the basic materials company’s stock worth $569,000 after buying an additional 6,495 shares during the last quarter. Barclays PLC grew its position in shares of Olympic Steel by 648.0% in the 4th quarter. Barclays PLC now owns 116,182 shares of the basic materials company’s stock worth $3,812,000 after buying an additional 100,650 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its position in shares of Olympic Steel by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company’s stock worth $456,000 after buying an additional 839 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of Olympic Steel stock opened at $32.10 on Thursday. The firm’s 50 day moving average price is $32.29 and its 200-day moving average price is $32.58. The company has a quick ratio of 1.25, a current ratio of 3.16 and a debt-to-equity ratio of 0.41. Olympic Steel, Inc. has a 52-week low of $26.32 and a 52-week high of $51.66. The company has a market cap of $358.24 million, a P/E ratio of 22.45 and a beta of 1.66.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Olympic Steel had a return on equity of 2.16% and a net margin of 0.88%. The firm had revenue of $492.94 million during the quarter, compared to analysts’ expectations of $466.80 million. On average, sell-side analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, KeyCorp cut their price objective on shares of Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th.

Olympic Steel 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.