Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Millennium Management LLC

Millennium Management LLC lowered its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 40.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 283,082 shares of the basic materials company's stock after selling 189,866 shares during the quarter. Millennium Management LLC owned about 2.54% of Olympic Steel worth $9,288,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. American Century Companies Inc. grew its holdings in Olympic Steel by 8.0% during the 4th quarter. American Century Companies Inc. now owns 330,113 shares of the basic materials company's stock valued at $10,831,000 after purchasing an additional 24,538 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Olympic Steel by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 233,615 shares of the basic materials company's stock valued at $7,667,000 after buying an additional 1,300 shares during the last quarter. Bridgeway Capital Management LLC raised its holdings in shares of Olympic Steel by 1.6% in the fourth 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. Jacobs Levy Equity Management Inc. lifted its stake in shares of Olympic Steel by 34.4% during 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 acquiring an additional 42,267 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in Olympic Steel by 4.0% during the 4th quarter. AQR Capital Management LLC now owns 139,098 shares of the basic materials company's stock valued at $4,564,000 after acquiring an additional 5,358 shares during the period. Institutional investors own 87.07% of the company's stock.

Analyst Ratings Changes

A number of analysts have weighed in on ZEUS shares. KeyCorp reduced their target price on 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 Trading Up 4.0%

ZEUS traded up $1.20 during trading on Tuesday, hitting $31.29. 69,788 shares of the stock were exchanged, compared to its average volume of 118,291. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $54.15. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The firm has a 50 day simple moving average of $31.22 and a 200 day simple moving average of $34.25. The firm has a market cap of $349.29 million, a price-to-earnings ratio of 15.88 and a beta of 1.75.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $492.94 million for the quarter, compared to analysts' expectations 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 analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 2.05%. Olympic Steel's dividend payout ratio (DPR) is presently 44.76%.

About Olympic Steel

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.