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

Exchange Traded Concepts LLC lessened its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 71.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,877 shares of the basic materials company's stock after selling 19,337 shares during the quarter. Exchange Traded Concepts LLC owned about 0.07% of Olympic Steel worth $248,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the stock. American Century Companies Inc. boosted its stake in shares of Olympic Steel by 8.0% during the 4th quarter. American Century Companies Inc. now owns 330,113 shares of the basic materials company's stock worth $10,831,000 after acquiring an additional 24,538 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Olympic Steel by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 233,615 shares of the basic materials company's stock worth $7,667,000 after purchasing an additional 1,300 shares during the last quarter. Bridgeway Capital Management LLC lifted its position in shares of Olympic Steel by 1.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company's stock worth $6,096,000 after purchasing an additional 2,934 shares during the last quarter. Nuveen Asset Management LLC lifted its position in shares of Olympic Steel by 5.7% during the 4th quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company's stock worth $5,692,000 after purchasing an additional 9,316 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Olympic Steel by 34.4% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company's stock worth $5,415,000 after purchasing an additional 42,267 shares during the last quarter. Institutional investors own 87.07% of the company's stock.

Olympic Steel Price Performance

NASDAQ ZEUS opened at $29.78 on Monday. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $51.66. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 3.16. The stock has a market capitalization of $332.34 million, a PE ratio of 20.83 and a beta of 1.66. The stock has a 50-day simple moving average of $31.35 and a 200 day simple moving average of $32.91.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the consensus estimate 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 net margin of 0.88% and a return on equity of 2.16%. Research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.64 annualized dividend and a yield of 2.15%. Olympic Steel's dividend payout ratio (DPR) is 44.76%.

Analysts Set New Price Targets

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

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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