Nuveen Asset Management LLC Buys 9,316 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Nuveen Asset Management LLC lifted its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 173,490 shares of the basic materials company's stock after purchasing an additional 9,316 shares during the quarter. Nuveen Asset Management LLC owned 1.56% of Olympic Steel worth $5,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of ZEUS. New Age Alpha Advisors LLC purchased a new position in shares of Olympic Steel in the 4th quarter worth about $59,000. Magnetar Financial LLC purchased a new position in shares of Olympic Steel in the 4th quarter worth about $216,000. Los Angeles Capital Management LLC raised its position in shares of Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock worth $247,000 after purchasing an additional 770 shares during the last quarter. SG Americas Securities LLC raised its position in Olympic Steel by 29.0% in 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 last quarter. Finally, Wells Fargo & Company MN raised its position 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 worth $298,000 after buying an additional 1,257 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ZEUS. KeyCorp decreased their target price on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen lowered Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Olympic Steel Stock Performance

NASDAQ:ZEUS traded up $1.47 during mid-day trading on Monday, reaching $31.12. The company's stock had a trading volume of 114,814 shares, compared to its average volume of 117,963. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $52.56. The stock has a market cap of $347.39 million, a P/E ratio of 15.80 and a beta of 1.75. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The firm's fifty day moving average price is $31.09 and its two-hundred day moving average price is $33.99.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last released its quarterly 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). Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The business had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. On average, equities analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The firm 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 dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Monday, June 2nd. 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.