GAMMA Investing LLC Purchases 12,958 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

GAMMA Investing LLC boosted its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 3,455.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,333 shares of the basic materials company's stock after purchasing an additional 12,958 shares during the period. GAMMA Investing LLC owned about 0.12% of Olympic Steel worth $423,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc raised its stake in shares of Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock worth $29,000 after buying an additional 586 shares during the period. Los Angeles Capital Management LLC increased its holdings in Olympic Steel by 11.4% in the 4th 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. 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 worth $724,000 after acquiring an additional 780 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Olympic Steel by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock worth $456,000 after acquiring an additional 839 shares during the period. Finally, Sei Investments Co. lifted its holdings in Olympic Steel by 1.4% during the fourth quarter. Sei Investments Co. now owns 65,127 shares of the basic materials company's stock valued at $2,137,000 after purchasing an additional 919 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS traded down $1.21 during trading on Friday, hitting $29.78. 331,772 shares of the company's stock were exchanged, compared to its average volume of 117,474. The business's 50-day simple moving average is $31.35 and its 200 day simple moving average is $33.03. The company has a market cap of $332.34 million, a price-to-earnings ratio of 20.83 and a beta of 1.66. Olympic Steel, Inc. has a 52-week low of $26.32 and a 52-week high of $51.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.16 and a quick ratio of 1.25.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $466.80 million. Olympic Steel had a net margin of 0.88% and a return on equity of 2.16%. As a group, equities analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 16th. Stockholders 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 dividend yield of 2.15%. Olympic Steel's dividend payout ratio (DPR) is 44.76%.

Analyst Ratings Changes

A number of analysts have 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 lowered Olympic Steel from a "buy" rating to a "hold" rating in a research note 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.