Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Bought by Northern Trust Corp

Northern Trust Corp grew its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 13.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 114,270 shares of the basic materials company's stock after purchasing an additional 13,745 shares during the period. Northern Trust Corp owned 1.03% of Olympic Steel worth $3,749,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ZEUS. New Age Alpha Advisors LLC acquired a new stake in shares of Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC acquired a new stake in shares of Olympic Steel during the 4th quarter worth about $216,000. Los Angeles Capital Management LLC boosted its position in shares of 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 worth $247,000 after acquiring an additional 770 shares during the last quarter. SG Americas Securities LLC grew its holdings in Olympic Steel by 29.0% in 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 during the period. Finally, Wells Fargo & Company MN increased its position in Olympic Steel by 16.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock worth $298,000 after purchasing an additional 1,257 shares during the last quarter. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

NASDAQ:ZEUS opened at $30.59 on Friday. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The company has a market cap of $341.48 million, a P/E ratio of 15.53 and a beta of 1.75. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $54.56. The firm's 50 day moving average is $31.36 and its two-hundred day moving average is $34.49.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted 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). The company had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. Analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date is Monday, June 2nd. Olympic Steel's dividend payout ratio is currently 44.76%.

Wall Street Analysts Forecast Growth

ZEUS has been the topic of a number of recent analyst reports. KeyCorp cut their price target on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wall Street Zen downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st.

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.

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