Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Bought by Ethic Inc.

Ethic Inc. raised its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 40.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,792 shares of the basic materials company’s stock after acquiring an additional 4,540 shares during the period. Ethic Inc.’s holdings in Olympic Steel were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Barclays PLC raised its holdings in Olympic Steel by 275.2% during the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company’s stock worth $606,000 after purchasing an additional 11,392 shares in the last quarter. Wedge Capital Management L L P NC raised its stake in Olympic Steel by 2.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 705 shares during the period. SG Americas Securities LLC raised its stake in Olympic Steel by 29.0% during the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 1,820 shares during the period. Exchange Traded Concepts LLC raised its stake in Olympic Steel by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company’s stock valued at $893,000 after purchasing an additional 1,432 shares during the period. Finally, Empowered Funds LLC grew its holdings in shares of Olympic Steel by 5.1% during the 4th quarter. Empowered Funds LLC now owns 60,805 shares of the basic materials company’s stock valued at $1,995,000 after acquiring an additional 2,934 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Trading Down 1.6%

Shares of NASDAQ:ZEUS opened at $31.73 on Friday. The stock has a market capitalization of $354.20 million, a PE ratio of 16.11 and a beta of 1.75. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $56.10. The firm has a fifty day moving average price of $31.42 and a 200 day moving average price of $34.64. 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 (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). The business had revenue of $492.94 million during the quarter, compared to the consensus estimate of $466.80 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. Analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Monday, June 2nd. Olympic Steel’s dividend payout ratio (DPR) is 44.76%.

Wall Street Analyst Weigh In

ZEUS has been the topic of several research analyst reports. KeyCorp lowered their price target on shares of Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, March 1st.

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.