GAMMA Investing LLC Boosts Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

GAMMA Investing LLC lifted its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 3,455.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm 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 0.12% of Olympic Steel worth $423,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in Olympic Steel by 178.7% in 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. Los Angeles Capital Management LLC boosted its holdings in Olympic Steel by 11.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock worth $247,000 after purchasing an additional 770 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Olympic Steel by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock worth $724,000 after purchasing an additional 780 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Olympic Steel by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock valued at $456,000 after acquiring an additional 839 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in Olympic Steel by 1.4% in the fourth quarter. Sei Investments Co. now owns 65,127 shares of the basic materials company's stock valued at $2,137,000 after acquiring an additional 919 shares during the last quarter. Institutional investors and hedge funds own 87.07% of the company's stock.

Olympic Steel Price Performance

NASDAQ:ZEUS traded up $0.39 during trading hours on Monday, hitting $30.17. The stock had a trading volume of 69,336 shares, compared to its average volume of 115,237. The company has a 50 day simple moving average of $31.35 and a two-hundred day simple moving average of $32.84. 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, Inc. has a one year low of $26.32 and a one year high of $51.66. The firm has a market capitalization of $336.70 million, a price-to-earnings ratio of 21.10 and a beta of 1.66.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings data 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 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%. Research analysts forecast that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were given a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, June 2nd. Olympic Steel's dividend payout ratio (DPR) is currently 44.76%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Wall Street Zen cut shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp cut their price target on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a report 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.