Magnetar Financial LLC Invests $6.59 Million in Olympic Steel, Inc. $ZEUS

Magnetar Financial LLC bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 154,020 shares of the basic materials company’s stock, valued at approximately $6,590,000.

Several other institutional investors have also recently made changes to their positions in the company. EverSource Wealth Advisors LLC increased its stake in shares of Olympic Steel by 823.3% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock valued at $27,000 after buying an additional 741 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Olympic Steel during the fourth quarter valued at $35,000. Quarry LP purchased a new position in shares of Olympic Steel during the third quarter valued at $27,000. Longfellow Investment Management Co. LLC purchased a new position in shares of Olympic Steel during the fourth quarter valued at $90,000. Finally, BNP Paribas Financial Markets increased its stake in shares of Olympic Steel by 11.2% during the second quarter. BNP Paribas Financial Markets now owns 25,622 shares of the basic materials company’s stock valued at $835,000 after buying an additional 2,589 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

Shares of Olympic Steel stock opened at $47.86 on Wednesday. The firm has a market cap of $535.94 million, a P/E ratio of 40.91 and a beta of 1.75. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. Olympic Steel, Inc. has a 12 month low of $27.11 and a 12 month high of $52.65. The stock’s fifty day moving average price is $47.86 and its 200-day moving average price is $46.94.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.