Federated Hermes Inc. Has $558,000 Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Key Points

• Federated Hermes Inc. increased its stake in Olympic Steel by a dramatic 18,931.2% in the first quarter, owning 0.16% of the company valued at $558,000.
• Wall Street analysts show mixed sentiments on Olympic Steel, with KeyCorp reducing its target price from $40.00 to $38.00 while Wall Street Zen upgraded the stock from a "hold" to a "buy" rating.
• Olympic Steel recently announced a quarterly dividend of $0.16, with an annualized payout of $0.64, translating to a yield of 2.1%.

Federated Hermes Inc. grew its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 18,931.2% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 17,699 shares of the basic materials company's stock after buying an additional 17,606 shares during the quarter. Federated Hermes Inc. owned 0.16% of Olympic Steel worth $558,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc boosted its stake in Olympic Steel by 178.7% in the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock valued at $29,000 after buying an additional 586 shares in the last quarter. CWM LLC boosted its stake in Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock worth $78,000 after purchasing an additional 1,552 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Olympic Steel during the first quarter valued at $179,000. State of Wyoming lifted its stake in shares of Olympic Steel by 17.6% during the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock valued at $270,000 after acquiring an additional 1,233 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Olympic Steel by 16.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock valued at $298,000 after acquiring an additional 1,257 shares during the period. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Stock Down 0.3%

Shares of NASDAQ:ZEUS traded down $0.10 during mid-day trading on Monday, reaching $31.03. 47,066 shares of the stock were exchanged, compared to its average volume of 83,208. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The company has a market cap of $347.47 million, a P/E ratio of 25.43 and a beta of 1.72. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $43.60. The stock's 50 day simple moving average is $32.38 and its 200-day simple moving average is $32.43.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The firm had revenue of $496.48 million for the quarter, compared to the consensus estimate of $506.60 million. Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%. As a group, equities research analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 2.1%. Olympic Steel's dividend payout ratio is 52.46%.

Analysts Set New Price Targets

Several equities research analysts have commented on ZEUS shares. Wall Street Zen downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday. KeyCorp reduced their price target on shares of Olympic Steel from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th.

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.