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

Nuveen Asset Management LLC boosted its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 5.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 173,490 shares of the basic materials company's stock after acquiring 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 institutional investors also recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. lifted its holdings in Olympic Steel by 34.4% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company's stock worth $5,415,000 after buying an additional 42,267 shares during the period. Ethic Inc. lifted its holdings in Olympic Steel by 40.3% in the 4th quarter. Ethic Inc. now owns 15,792 shares of the basic materials company's stock worth $518,000 after buying an additional 4,540 shares during the period. Deutsche Bank AG lifted its holdings in Olympic Steel by 60.7% in the 4th quarter. Deutsche Bank AG now owns 9,984 shares of the basic materials company's stock worth $328,000 after buying an additional 3,770 shares during the period. Cresset Asset Management LLC lifted its holdings in Olympic Steel by 17.4% in the 4th quarter. Cresset Asset Management LLC now owns 21,108 shares of the basic materials company's stock worth $693,000 after buying an additional 3,131 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in Olympic Steel by 1.6% in the 4th quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company's stock worth $6,096,000 after buying an additional 2,934 shares during the period. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ZEUS. KeyCorp dropped their price objective on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.

Olympic Steel Stock Up 1.0%

Shares of NASDAQ:ZEUS traded up $0.31 during trading on Wednesday, hitting $31.86. The stock had a trading volume of 85,782 shares, compared to its average volume of 117,727. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $51.66. The company has a market capitalization of $355.65 million, a PE ratio of 16.17 and a beta of 1.75. The firm's fifty day moving average is $31.05 and its 200 day moving average is $33.90. 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 (NASDAQ:ZEUS - Get Free Report) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $492.94 million during the quarter, compared to the consensus estimate of $466.80 million. Analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The company also recently announced 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. This represents a $0.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's dividend 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.