Dimensional Fund Advisors LP reduced its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 4.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 810,638 shares of the basic materials company's stock after selling 41,514 shares during the period. Dimensional Fund Advisors LP owned about 7.28% of Olympic Steel worth $26,597,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings 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 worth $8,365,000 after acquiring an additional 123,632 shares during the last quarter. Barclays PLC grew its position in Olympic Steel by 275.2% in the 3rd 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 during the period. Prudential Financial Inc. grew its position in Olympic Steel by 27.4% in the 4th quarter. Prudential Financial Inc. now owns 99,433 shares of the basic materials company's stock worth $3,262,000 after purchasing an additional 21,403 shares during the period. Proficio Capital Partners LLC bought a new stake in Olympic Steel in the 4th quarter worth approximately $493,000. Finally, SG Americas Securities LLC grew its position in Olympic Steel by 29.0% in the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock worth $266,000 after purchasing an additional 1,820 shares during the period. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
Olympic Steel Price Performance
ZEUS stock traded up $1.73 during mid-day trading on Monday, hitting $32.78. The company had a trading volume of 6,523 shares, compared to its average volume of 118,661. The company has a market capitalization of $365.87 million, a price-to-earnings ratio of 16.68 and a beta of 1.75. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $56.10. 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 50-day moving average price of $31.36 and a 200 day moving average price of $34.74.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The company had revenue of $492.94 million during the quarter, compared to analysts' expectations of $466.80 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, research analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.
Olympic Steel Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Monday, June 2nd. Olympic Steel's dividend payout ratio is 44.76%.
Wall Street Analysts Forecast Growth
A number of research firms have commented on ZEUS. StockNews.com downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. KeyCorp cut their price objective on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th.
Read Our Latest Stock Analysis on Olympic Steel
Olympic Steel Profile
(
Free Report)
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.
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