Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 1,020.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 59,135 shares of the basic materials company's stock after buying an additional 53,857 shares during the period. Assenagon Asset Management S.A. owned about 0.53% of Olympic Steel worth $2,306,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC lifted its position in shares of Olympic Steel by 62.0% during the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company's stock valued at $4,429,000 after acquiring an additional 37,798 shares during the period. American Century Companies Inc. raised its holdings in Olympic Steel by 10.7% during the second quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company's stock worth $12,550,000 after purchasing an additional 27,123 shares during the last quarter. Bank of New York Mellon Corp boosted its position in Olympic Steel by 21.6% during the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company's stock worth $6,358,000 after purchasing an additional 25,201 shares in the last quarter. Unison Advisors LLC acquired a new stake in Olympic Steel in the third quarter valued at $729,000. Finally, Vanguard Group Inc. increased its position in shares of Olympic Steel by 1.8% in the first quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company's stock valued at $48,306,000 after buying an additional 12,242 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Price Performance

Shares of ZEUS stock traded down $1.31 during trading hours on Friday, hitting $34.57. The company's stock had a trading volume of 234,104 shares, compared to its average volume of 115,776. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The business has a fifty day moving average of $38.45 and a 200-day moving average of $46.19. Olympic Steel, Inc. has a twelve month low of $32.23 and a twelve month high of $73.49. The stock has a market cap of $384.76 million, a price-to-earnings ratio of 11.14 and a beta of 1.46.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.55 by $0.05. Olympic Steel had a return on equity of 4.98% and a net margin of 1.74%. The firm had revenue of $526.25 million for the quarter. During the same quarter last year, the company posted $1.24 EPS.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a research report on Friday, October 25th.

About Olympic Steel

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.