10,283 Shares in Olympic Steel, Inc. $ZEUS Bought by PDT Partners LLC

Key Points

• PDT Partners LLC has invested approximately $324,000 in Olympic Steel, acquiring 10,283 shares, which represents 0.09% of the company's total stock.
• Olympic Steel has reported $0.50 earnings per share for the last quarter, missing expectations by $0.09, with a revenue of $496.48 million against an anticipated $506.60 million.
• The company will be issuing a quarterly dividend of $0.16 per share, with an annualized yield of 1.9%, payable on September 15th to shareholders of record as of September 2nd.

PDT Partners LLC bought a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 10,283 shares of the basic materials company's stock, valued at approximately $324,000. PDT Partners LLC owned 0.09% of Olympic Steel at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC boosted its holdings in Olympic Steel by 2.2% in the first quarter. SummerHaven Investment Management LLC now owns 19,059 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 417 shares during the period. Versant Capital Management Inc boosted its holdings in Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 586 shares during the period. New Age Alpha Advisors LLC boosted its holdings in Olympic Steel by 33.6% in the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company's stock valued at $76,000 after purchasing an additional 605 shares during the period. Quantbot Technologies LP boosted its holdings in Olympic Steel by 20.1% in the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 830 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Olympic Steel by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock valued at $456,000 after purchasing an additional 839 shares during the period. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have issued reports on ZEUS shares. KeyCorp decreased their price target on Olympic Steel from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. Wall Street Zen downgraded Olympic Steel from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, Olympic Steel presently has a consensus rating of "Buy" and a consensus price target of $38.00.

Olympic Steel Stock Performance

Shares of ZEUS traded up $0.10 during midday trading on Wednesday, reaching $32.58. 6,366 shares of the stock were exchanged, compared to its average volume of 79,512. The business's 50-day moving average price is $33.03 and its 200 day moving average price is $32.07. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.07 and a quick ratio of 1.18. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a market capitalization of $364.90 million, a price-to-earnings ratio of 26.73 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). The company had revenue of $496.48 million during the quarter, compared to analyst estimates of $506.60 million. Olympic Steel had a net margin of 0.77% and a return on equity of 1.95%. On average, sell-side analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. Olympic Steel's dividend payout ratio is 52.46%.

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.