JB Capital Partners LP Raises Stake in Olympic Steel, Inc. $ZEUS

Key Points

• JB Capital Partners LP increased its stake in Olympic Steel, Inc. by 13.1%, owning 206,332 shares worth approximately $6.5 million now.
• Olympic Steel reported a quarterly EPS of $0.50, which missed analysts' expectations by $0.09, alongside a revenue of $496.48 million.
• The company announced a $0.16 quarterly dividend with a yield of 1.9%, set to be paid on September 15th.

JB Capital Partners LP boosted its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 206,332 shares of the basic materials company's stock after buying an additional 23,833 shares during the quarter. Olympic Steel makes up approximately 1.4% of JB Capital Partners LP's portfolio, making the stock its 14th biggest position. JB Capital Partners LP owned about 1.85% of Olympic Steel worth $6,504,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in Olympic Steel by 0.4% in the first quarter. Vanguard Group Inc. now owns 610,747 shares of the basic materials company's stock worth $19,251,000 after buying an additional 2,503 shares in the last quarter. American Century Companies Inc. boosted its stake in Olympic Steel by 5.8% in the first quarter. American Century Companies Inc. now owns 349,157 shares of the basic materials company's stock worth $11,005,000 after buying an additional 19,044 shares in the last quarter. Bridgeway Capital Management LLC boosted its stake in shares of Olympic Steel by 1.6% during the fourth quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company's stock valued at $6,096,000 after purchasing an additional 2,934 shares during the period. Nuveen LLC purchased a new stake in shares of Olympic Steel during the first quarter valued at approximately $5,637,000. Finally, Nuveen Asset Management LLC boosted its stake in shares of Olympic Steel by 5.7% during the fourth quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company's stock valued at $5,692,000 after purchasing an additional 9,316 shares during the period. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Stock Performance

Shares of ZEUS stock opened at $33.56 on Friday. The stock has a fifty day moving average of $32.56 and a 200 day moving average of $32.25. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $43.60. The firm has a market capitalization of $375.87 million, a price-to-earnings ratio of 27.51 and a beta of 1.72. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.59 by ($0.09). The business had revenue of $496.48 million during the quarter, compared to analysts' expectations of $506.60 million. Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%. As a group, research analysts expect that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a $0.16 dividend. The ex-dividend date is Tuesday, September 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Olympic Steel's dividend payout ratio is 52.46%.

Analyst Upgrades and Downgrades

ZEUS has been the subject of a number of analyst reports. Wall Street Zen lowered Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. KeyCorp dropped their price objective on Olympic Steel from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Olympic Steel has a consensus rating of "Buy" and an average price target of $38.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.