Millennium Management LLC Has $9.29 Million Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

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

Several other institutional investors have also recently added to or reduced their stakes in ZEUS. New Age Alpha Advisors LLC acquired a new position in Olympic Steel during the 4th quarter valued at about $59,000. Magnetar Financial LLC bought a new position in Olympic Steel in the 4th quarter worth approximately $216,000. Los Angeles Capital Management LLC grew its holdings in 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 buying an additional 770 shares in the last quarter. SG Americas Securities LLC raised its stake in 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 valued at $266,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Olympic Steel by 16.0% during the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock valued at $298,000 after acquiring an additional 1,257 shares in the last quarter. Institutional investors own 87.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

Olympic Steel Trading Down 2.5%

ZEUS stock traded down $0.77 during mid-day trading on Wednesday, reaching $30.52. 48,962 shares of the stock traded hands, compared to its average volume of 118,014. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 52-week low of $26.32 and a 52-week high of $54.15. The company has a market cap of $340.69 million, a P/E ratio of 15.49 and a beta of 1.75. The stock's fifty day moving average is $31.22 and its 200-day moving average is $34.25.

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 (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The company had revenue of $492.94 million during 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%. As a group, sell-side analysts expect that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Announces Dividend

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 issued 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 yield of 2.10%. Olympic Steel's dividend payout ratio (DPR) is presently 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.