Mackenzie Financial Corp bought a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 10,989 shares of the basic materials company's stock, valued at approximately $361,000. Mackenzie Financial Corp owned 0.10% of Olympic Steel as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. New Age Alpha Advisors LLC purchased a new position in Olympic Steel during the 4th quarter valued at $59,000. Magnetar Financial LLC purchased a new stake in shares of Olympic Steel in the 4th quarter worth about $216,000. Los Angeles Capital Management LLC boosted its stake in shares of Olympic Steel by 11.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock valued at $247,000 after purchasing an additional 770 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Olympic Steel by 29.0% during the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock valued at $266,000 after buying an additional 1,820 shares during the period. Finally, State of Wyoming raised its stake in Olympic Steel by 17.6% in the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock worth $270,000 after buying an additional 1,233 shares in the last quarter. Institutional investors own 87.07% of the company's stock.
Olympic Steel Stock Up 0.5%
Shares of ZEUS stock traded up $0.15 during mid-day trading on Friday, reaching $31.61. 48,323 shares of the company's stock traded hands, compared to its average volume of 117,625. The company's 50-day moving average price is $31.05 and its 200-day moving average price is $33.69. The company has a market cap of $352.86 million, a P/E ratio of 16.05 and a beta of 1.66. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $51.66.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings results 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 business had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. On average, equities analysts expect that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.
Olympic Steel Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.16 dividend. The ex-dividend date is Monday, June 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.02%. Olympic Steel's dividend payout ratio is currently 44.76%.
Wall Street Analysts Forecast Growth
Several analysts have weighed in on ZEUS shares. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. KeyCorp lowered their target price on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th.
Read Our Latest Stock Analysis on ZEUS
About Olympic Steel
(
Free Report)
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.
See Also
Before you consider Olympic Steel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Olympic Steel wasn't on the list.
While Olympic Steel currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
