JB Capital Partners LP Has $6.50 Million Position 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 increased its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 206,332 shares of the basic materials company's stock after buying an additional 23,833 shares during the period. Olympic Steel accounts for approximately 1.4% of JB Capital Partners LP's holdings, making the stock its 14th biggest holding. JB Capital Partners LP owned about 1.85% of Olympic Steel worth $6,504,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ZEUS. Versant Capital Management Inc boosted its position 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 during the last quarter. New Age Alpha Advisors LLC lifted its stake in shares of Olympic Steel by 33.6% during the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 605 shares during the period. CWM LLC boosted its holdings in Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock valued at $78,000 after acquiring an additional 1,552 shares during the last quarter. Quantbot Technologies LP increased its position in Olympic Steel by 20.1% in the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock worth $156,000 after purchasing an additional 830 shares during the period. Finally, Meeder Asset Management Inc. bought a new stake in Olympic Steel during the 1st quarter worth about $179,000. Institutional investors own 87.07% of the company's stock.

Analysts Set New Price Targets

ZEUS has been the topic of several recent research reports. Wall Street Zen lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. KeyCorp reduced their price objective on shares of Olympic Steel from $40.00 to $38.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Olympic Steel has an average rating of "Buy" and a consensus price target of $38.00.

Olympic Steel Stock Up 0.4%

Shares of NASDAQ ZEUS traded up $0.15 during mid-day trading on Friday, hitting $33.87. The company had a trading volume of 16,861 shares, compared to its average volume of 80,195. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $43.60. The company has a market capitalization of $379.36 million, a PE ratio of 27.71 and a beta of 1.72. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a 50-day simple moving average of $32.78 and a two-hundred day simple moving average of $32.23.

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

Olympic Steel Announces Dividend

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

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.