Hsbc Holdings PLC Boosts Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Hsbc Holdings PLC increased its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 98.4% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,524 shares of the basic materials company's stock after purchasing an additional 9,683 shares during the period. Hsbc Holdings PLC owned 0.18% of Olympic Steel worth $637,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock valued at $8,365,000 after purchasing an additional 123,632 shares in the last quarter. Barclays PLC boosted its stake in Olympic Steel by 275.2% in the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock valued at $606,000 after acquiring an additional 11,392 shares in the last quarter. Prudential Financial Inc. boosted its stake in Olympic Steel by 27.4% in the fourth quarter. Prudential Financial Inc. now owns 99,433 shares of the basic materials company's stock valued at $3,262,000 after acquiring an additional 21,403 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Olympic Steel in the fourth quarter valued at approximately $493,000. Finally, SG Americas Securities LLC boosted its stake in Olympic Steel by 29.0% in the fourth 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. 87.07% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ZEUS has been the subject of a number of research analyst reports. StockNews.com cut shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. KeyCorp decreased their price target on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th.

Olympic Steel Price Performance

Shares of Olympic Steel stock traded down $1.30 during trading hours on Friday, reaching $31.05. The stock had a trading volume of 55,786 shares, compared to its average volume of 119,101. The firm has a market capitalization of $346.61 million, a PE ratio of 15.76 and a beta of 1.75. The stock's 50 day moving average is $31.36 and its 200 day moving average is $34.74. 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 twelve month low of $26.32 and a twelve month high of $56.10.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced 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). Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The business had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. Equities 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, June 16th. Stockholders of record on Monday, June 2nd will be issued a $0.16 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 2.06%. Olympic Steel's dividend payout ratio is currently 44.76%.

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.