Y Intercept Hong Kong Ltd Makes New $454,000 Investment in Olympic Steel, Inc. (NASDAQ:ZEUS)

Y Intercept Hong Kong Ltd bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 14,397 shares of the basic materials company's stock, valued at approximately $454,000. Y Intercept Hong Kong Ltd owned 0.13% of Olympic Steel as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Foundry Partners LLC bought a new stake in Olympic Steel during the first quarter worth $4,082,000. CWM LLC grew its holdings in Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock worth $78,000 after buying an additional 1,552 shares in the last quarter. SummerHaven Investment Management LLC grew its holdings in Olympic Steel by 2.2% during the first quarter. SummerHaven Investment Management LLC now owns 19,059 shares of the basic materials company's stock worth $601,000 after buying an additional 417 shares in the last quarter. Wedge Capital Management L L P NC grew its stake in Olympic Steel by 22.4% in the 1st quarter. Wedge Capital Management L L P NC now owns 31,068 shares of the basic materials company's stock valued at $979,000 after purchasing an additional 5,694 shares during the period. Finally, GAMMA Investing LLC grew its stake in 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 during the period. Institutional investors own 87.07% of the company's stock.

Olympic Steel Stock Performance

NASDAQ:ZEUS traded up $0.53 during trading on Friday, reaching $31.63. The company's stock had a trading volume of 22,540 shares, compared to its average volume of 83,345. The firm has a market cap of $353.04 million, a price-to-earnings ratio of 22.20 and a beta of 1.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 3.16. The firm has a 50 day moving average of $32.32 and a 200-day moving average of $32.57. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $45.23.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. Olympic Steel had a return on equity of 2.16% and a net margin of 0.88%. Research analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, KeyCorp reduced their price objective on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th.

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.