CANADA LIFE ASSURANCE Co Grows Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

CANADA LIFE ASSURANCE Co increased its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 909.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,203 shares of the basic materials company's stock after buying an additional 9,192 shares during the period. CANADA LIFE ASSURANCE Co owned 0.09% of Olympic Steel worth $335,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Barclays PLC lifted its stake in shares of Olympic Steel by 275.2% in the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock valued at $606,000 after buying an additional 11,392 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Olympic Steel by 136.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock valued at $8,365,000 after acquiring an additional 123,632 shares in the last quarter. Wedge Capital Management L L P NC boosted 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 last quarter. SG Americas Securities LLC boosted 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 last quarter. Finally, Exchange Traded Concepts LLC increased its holdings 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 worth $893,000 after purchasing an additional 1,432 shares in the last quarter. 87.07% of the stock is owned by institutional investors.

Olympic Steel Stock Up 9.2 %

ZEUS stock traded up $2.93 during trading on Friday, reaching $34.92. The stock had a trading volume of 176,385 shares, compared to its average volume of 119,675. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $58.54. The company's 50 day moving average is $31.48 and its two-hundred day moving average is $34.97. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $389.81 million, a price-to-earnings ratio of 17.73 and a beta of 1.50.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The business had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. Equities research analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's dividend payout ratio (DPR) is currently 32.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on ZEUS. KeyCorp lifted their target price on Olympic Steel from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, February 24th. StockNews.com downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.

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.