33,429 Shares in Olympic Steel, Inc. (NASDAQ:ZEUS) Acquired by Man Group plc

Man Group plc bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 33,429 shares of the basic materials company's stock, valued at approximately $1,097,000. Man Group plc owned 0.30% of Olympic Steel as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in shares of Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC bought a new stake in shares of Olympic Steel during the 4th quarter worth about $216,000. Los Angeles Capital Management LLC boosted its holdings 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 worth $247,000 after buying an additional 770 shares during the period. SG Americas Securities LLC boosted its holdings in shares of Olympic Steel by 29.0% during the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock worth $266,000 after buying an additional 1,820 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in Olympic Steel by 16.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock valued at $298,000 after purchasing an additional 1,257 shares during the period. Institutional investors own 87.07% of the company's stock.

Analysts Set New Price Targets

A number of analysts have issued reports on ZEUS shares. Wall Street Zen downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. KeyCorp cut their price objective 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 Price Performance

Shares of NASDAQ:ZEUS traded down $0.01 during midday trading on Thursday, hitting $30.52. The stock had a trading volume of 12,687 shares, compared to its average volume of 117,542. The company's 50-day moving average price is $31.20 and its 200-day moving average price is $34.22. The company has a market capitalization of $340.64 million, a P/E ratio of 15.49 and a beta of 1.75. 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 fifty-two week low of $26.32 and a fifty-two week high of $52.74.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $492.94 million during the quarter, compared to analyst estimates of $466.80 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. As a group, equities research analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's dividend payout ratio is 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.