Foundry Partners LLC Invests $4.08 Million in Olympic Steel, Inc. (NASDAQ:ZEUS)

Foundry Partners LLC bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 129,510 shares of the basic materials company's stock, valued at approximately $4,082,000. Foundry Partners LLC owned 1.16% of Olympic Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings in Olympic Steel by 178.7% during the first 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 during the period. New Age Alpha Advisors LLC purchased a new position in Olympic Steel during the fourth quarter valued at approximately $59,000. CWM LLC increased its holdings in Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock valued at $78,000 after buying an additional 1,552 shares during the period. Magnetar Financial LLC purchased a new position in Olympic Steel during the fourth quarter valued at approximately $216,000. Finally, State of Wyoming increased its holdings in 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 buying an additional 1,233 shares during the period. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of ZEUS opened at $33.13 on Friday. The company has a market cap of $369.73 million, a price-to-earnings ratio of 23.17 and a beta of 1.66. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $51.66. The company has a quick ratio of 1.25, a current ratio of 3.16 and a debt-to-equity ratio of 0.41. The company has a 50 day moving average of $32.12 and a two-hundred day moving average of $32.49.

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 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%. As a group, 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 paid 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 1.93%. Olympic Steel's dividend payout ratio (DPR) is 44.76%.

Analyst Upgrades and Downgrades

Separately, KeyCorp lowered their target price 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.

Olympic Steel 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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