Exchange Traded Concepts LLC Sells 19,337 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Exchange Traded Concepts LLC decreased its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 71.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,877 shares of the basic materials company's stock after selling 19,337 shares during the period. Exchange Traded Concepts LLC owned 0.07% of Olympic Steel worth $248,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Van ECK Associates Corp grew its stake in shares of Olympic Steel by 3.7% in the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock valued at $724,000 after buying an additional 780 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Olympic Steel by 23.1% in the fourth quarter. Bank of New York Mellon Corp now owns 122,269 shares of the basic materials company's stock valued at $4,012,000 after acquiring an additional 22,908 shares during the last quarter. Los Angeles Capital Management LLC grew its position in 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 worth $247,000 after acquiring an additional 770 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Olympic Steel in the fourth quarter worth approximately $493,000. Finally, AlphaQuest LLC increased its stake in shares of Olympic Steel by 63.4% during the 4th quarter. AlphaQuest LLC now owns 25,174 shares of the basic materials company's stock worth $826,000 after purchasing an additional 9,763 shares during the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

ZEUS traded up $1.15 on Thursday, hitting $32.47. The company had a trading volume of 63,950 shares, compared to its average volume of 115,223. The stock has a market cap of $362.37 million, a price-to-earnings ratio of 22.71 and a beta of 1.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.16 and a quick ratio of 1.25. The company's fifty day moving average price is $31.42 and its 200 day moving average price is $32.74. Olympic Steel, Inc. has a 1-year low of $26.32 and a 1-year high of $51.66.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $492.94 million during the quarter, compared to analyst estimates of $466.80 million. Olympic Steel had a return on equity of 2.16% and a net margin of 0.88%. Equities analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend was Monday, June 2nd. Olympic Steel's dividend payout ratio is 44.76%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp reduced 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 note on Tuesday, May 6th. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

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.