Dimensional Fund Advisors LP Sells 41,514 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Dimensional Fund Advisors LP lessened its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 4.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 810,638 shares of the basic materials company's stock after selling 41,514 shares during the quarter. Dimensional Fund Advisors LP owned approximately 7.28% of Olympic Steel worth $26,597,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ZEUS. New Age Alpha Advisors LLC acquired a new position in shares of Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC bought a new stake in Olympic Steel in the fourth quarter valued at approximately $216,000. Los Angeles Capital Management LLC lifted its position in shares of Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock valued at $247,000 after buying an additional 770 shares during the last quarter. SG Americas Securities LLC boosted its stake in shares of 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 worth $266,000 after acquiring an additional 1,820 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Olympic Steel by 16.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock valued at $298,000 after acquiring an additional 1,257 shares during the period. 87.07% of the stock is owned by institutional investors.

Olympic Steel Price Performance

Shares of NASDAQ ZEUS traded down $1.30 during midday trading on Friday, reaching $31.05. The company's stock had a trading volume of 55,786 shares, compared to its average volume of 119,101. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The company has a market cap of $346.61 million, a P/E ratio of 15.76 and a beta of 1.75. The business's 50 day moving average price is $31.36 and its two-hundred day moving average price is $34.75. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $56.10.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last released its earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share 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 company had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. On average, analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The company 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 $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's payout ratio is presently 44.76%.

Analyst Ratings Changes

Several analysts recently weighed in on the company. KeyCorp dropped their price target on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. StockNews.com downgraded 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.