American Century Companies Inc. Acquires 19,044 Shares of Olympic Steel, Inc. $ZEUS

Key Points

• American Century Companies Inc. increased its holdings in Olympic Steel, Inc. by 5.8%, acquiring an additional 19,044 shares during the first quarter, bringing its total ownership to approximately 3.13%.
• Recent analyst reports downgraded Olympic Steel's rating, with Wall Street Zen changing it from a "buy" to a "hold" and KeyCorp lowering their price target from $40.00 to $38.00.
• Olympic Steel announced a quarterly dividend of $0.16 per share, with the dividend yield standing at 1.9% and a payout ratio of 52.46%.

American Century Companies Inc. lifted its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 5.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 349,157 shares of the basic materials company's stock after purchasing an additional 19,044 shares during the period. American Century Companies Inc. owned about 3.13% of Olympic Steel worth $11,005,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Olympic Steel by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 610,747 shares of the basic materials company's stock worth $19,251,000 after purchasing an additional 2,503 shares during the period. Bridgeway Capital Management LLC raised its stake in Olympic Steel by 1.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company's stock valued at $6,096,000 after acquiring an additional 2,934 shares during the period. Nuveen LLC bought a new stake in Olympic Steel in the 1st quarter valued at about $5,637,000. Nuveen Asset Management LLC raised its stake in Olympic Steel by 5.7% in the 4th quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company's stock valued at $5,692,000 after acquiring an additional 9,316 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its stake in Olympic Steel by 34.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company's stock valued at $5,415,000 after acquiring an additional 42,267 shares during the period. 87.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the company. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. KeyCorp lowered their price objective 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. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $38.00.

Olympic Steel Stock Up 0.1%

Shares of ZEUS opened at $33.68 on Wednesday. The firm has a market cap of $377.15 million, a P/E ratio of 27.61 and a beta of 1.72. The stock has a 50 day simple moving average of $32.67 and a two-hundred day simple moving average of $32.24. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.07 and a quick ratio of 1.18. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $43.60.

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

Olympic Steel Announces Dividend

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

Olympic Steel Company 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.

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