Trexquant Investment LP Boosts Stock Position in Olympic Steel, Inc. $ZEUS

Key Points

• Trexquant Investment LP increased its stake in Olympic Steel, Inc. by 42.3%, holding approximately 69,668 shares worth $2.2 million as of its latest SEC filing.
• Olympic Steel announced a quarterly dividend of $0.16 per share, which reflects a 1.9% dividend yield and will be paid to shareholders of record on September 2nd.
• Analysts recently adjusted their price targets for Olympic Steel, with KeyCorp lowering it from $40.00 to $38.00 while providing an "overweight" rating on the stock.

Trexquant Investment LP increased its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 42.3% in the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 69,668 shares of the basic materials company's stock after buying an additional 20,705 shares during the quarter. Trexquant Investment LP owned about 0.62% of Olympic Steel worth $2,196,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. JB Capital Partners LP increased its holdings in Olympic Steel by 13.1% in the 1st quarter. JB Capital Partners LP now owns 206,332 shares of the basic materials company's stock worth $6,504,000 after buying an additional 23,833 shares in the last quarter. Walleye Capital LLC bought a new stake in Olympic Steel in the 1st quarter worth about $376,000. Hsbc Holdings PLC increased its holdings in Olympic Steel by 8.2% in the 1st quarter. Hsbc Holdings PLC now owns 21,125 shares of the basic materials company's stock worth $665,000 after buying an additional 1,601 shares in the last quarter. Quantbot Technologies LP increased its holdings in Olympic Steel by 20.1% in the 1st quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock worth $156,000 after buying an additional 830 shares in the last quarter. Finally, Corient IA LLC bought a new stake in Olympic Steel in the 1st quarter worth about $252,000. 87.07% of the stock is currently owned by institutional investors.

Olympic Steel Stock Performance

Shares of Olympic Steel stock traded up $0.16 during trading hours on Wednesday, reaching $32.64. 48,873 shares of the stock traded hands, compared to its average volume of 52,705. The company has a 50 day moving average price of $33.00 and a 200 day moving average price of $32.07. The firm has a market capitalization of $365.57 million, a price-to-earnings ratio of 26.75 and a beta of 1.77. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $43.60. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40.

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

Olympic Steel Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms recently commented on ZEUS. Wall Street Zen downgraded Olympic Steel from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. KeyCorp cut their price target on Olympic Steel from $40.00 to $38.00 and set an "overweight" rating for the company in a research note on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Olympic Steel presently has a consensus rating of "Buy" and an average target price of $38.00.

Olympic Steel Company 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.