11,915 Shares in Olympic Steel, Inc. $ZEUS Purchased by Walleye Capital LLC

Key Points

• Walleye Capital LLC acquired 11,915 shares of Olympic Steel, valued at approximately $376,000, indicating growing institutional interest in the company.
• Olympic Steel reported disappointing quarterly earnings of $0.50 per share, lower than the consensus estimate of $0.59, coupled with a revenue of $496.48 million, missing expectations as well.
• The company announced a quarterly dividend of $0.16 per share, with an annualized yield of 1.9%, reflecting a commitment to return value to shareholders.

Walleye Capital LLC purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 11,915 shares of the basic materials company's stock, valued at approximately $376,000. Walleye Capital LLC owned approximately 0.11% of Olympic Steel at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of ZEUS. Versant Capital Management Inc grew its stake in Olympic Steel by 178.7% during the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 586 shares in the last quarter. New Age Alpha Advisors LLC grew its stake in Olympic Steel by 33.6% during the 1st quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 605 shares in the last quarter. CWM LLC grew its stake in Olympic Steel by 170.5% during the 1st quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 1,552 shares in the last quarter. Quantbot Technologies LP grew its stake in Olympic Steel by 20.1% during the 1st quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock valued at $156,000 after acquiring an additional 830 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Olympic Steel during the 1st quarter valued at about $179,000. Hedge funds and other institutional investors own 87.07% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. KeyCorp lowered their target price on Olympic Steel from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $38.00.

Olympic Steel Stock Down 2.1%

ZEUS opened at $33.01 on Wednesday. The business has a 50 day moving average price of $32.97 and a 200 day moving average price of $32.18. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 3.07. The firm has a market cap of $369.71 million, a P/E ratio of 27.06 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Olympic Steel had a net margin of 0.77% and a return on equity of 1.95%. The business had revenue of $496.48 million during the quarter, compared to the consensus estimate of $506.60 million. Research analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Investors of record on Tuesday, September 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Olympic Steel's payout ratio is 52.46%.

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.

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