Olympic Steel, Inc. (NASDAQ:ZEUS) Holdings Decreased by Bank of America Corp DE

Bank of America Corp DE lowered its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 27.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,541 shares of the basic materials company's stock after selling 16,825 shares during the period. Bank of America Corp DE owned approximately 0.41% of Olympic Steel worth $1,494,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. raised its stake in Olympic Steel by 27.4% during the 4th quarter. Prudential Financial Inc. now owns 99,433 shares of the basic materials company's stock valued at $3,262,000 after acquiring an additional 21,403 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Olympic Steel during the 4th quarter valued at $493,000. Barclays PLC raised its stake in Olympic Steel by 648.0% during the 4th quarter. Barclays PLC now owns 116,182 shares of the basic materials company's stock valued at $3,812,000 after acquiring an additional 100,650 shares in the last quarter. SG Americas Securities LLC raised 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 acquiring an additional 1,820 shares in the last quarter. Finally, Van ECK Associates Corp raised its stake in Olympic Steel by 3.7% during the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock valued at $724,000 after acquiring an additional 780 shares in the last quarter. Institutional investors own 87.07% of the company's stock.

Wall Street Analyst Weigh In

ZEUS has been the topic of several recent analyst reports. KeyCorp cut their target price on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st.

Olympic Steel Trading Up 0.5%

Shares of Olympic Steel stock traded up $0.15 on Friday, reaching $31.61. 48,323 shares of the company were exchanged, compared to its average volume of 117,625. The stock has a fifty day moving average price of $31.05 and a 200-day moving average price of $33.69. The firm has a market capitalization of $352.86 million, a price-to-earnings ratio of 16.05 and a beta of 1.66. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $51.66.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The company had revenue of $492.94 million for the quarter, compared to analyst estimates of $466.80 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, analysts expect 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, June 16th. Stockholders of record on Monday, June 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's dividend payout ratio (DPR) is presently 44.76%.

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.