Mackenzie Financial Corp Invests $361,000 in Olympic Steel, Inc. (NASDAQ:ZEUS)

Mackenzie Financial Corp acquired a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 10,989 shares of the basic materials company's stock, valued at approximately $361,000. Mackenzie Financial Corp owned approximately 0.10% of Olympic Steel as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in shares of Olympic Steel in the 4th quarter valued at $59,000. Magnetar Financial LLC acquired a new position in Olympic Steel in the 4th quarter worth about $216,000. Los Angeles Capital Management LLC raised its position in Olympic Steel by 11.4% in the fourth 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 during the last quarter. SG Americas Securities LLC boosted its stake 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 purchasing an additional 1,820 shares in the last quarter. Finally, State of Wyoming boosted its stake in shares of Olympic Steel by 17.6% during the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock valued at $270,000 after purchasing an additional 1,233 shares in the last quarter. Institutional investors own 87.07% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp reduced their price target on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th.

Olympic Steel Trading Up 0.5%

NASDAQ:ZEUS traded up $0.15 on Friday, reaching $31.61. 48,323 shares of the stock traded hands, compared to its average volume of 117,340. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 1-year low of $26.32 and a 1-year high of $51.66. The company's 50 day moving average is $31.05 and its 200-day moving average is $33.84. The firm has a market capitalization of $352.86 million, a price-to-earnings ratio of 16.05 and a beta of 1.66.

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 for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The business had revenue of $492.94 million for the quarter, compared to analyst estimates of $466.80 million. Equities research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. Olympic Steel's payout ratio is currently 44.76%.

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.