Point72 Asia Singapore Pte. Ltd. trimmed its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 60.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,204 shares of the basic materials company's stock after selling 8,013 shares during the quarter. Point72 Asia Singapore Pte. Ltd.'s holdings in Olympic Steel were worth $171,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in shares of Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC acquired a new position in Olympic Steel during the 4th quarter worth approximately $216,000. Los Angeles Capital Management LLC boosted its holdings in Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock worth $247,000 after acquiring an additional 770 shares in the last quarter. SG Americas Securities LLC grew 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 during the period. Finally, Wells Fargo & Company MN increased its holdings in shares of Olympic Steel by 16.0% during the fourth 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. 87.07% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently issued reports on the company. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. KeyCorp dropped their price objective on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th.
Read Our Latest Research Report on Olympic Steel
Olympic Steel Stock Down 1.6%
ZEUS traded down $0.50 during midday trading on Thursday, reaching $30.65. 15,017 shares of the company were exchanged, compared to its average volume of 117,824. The company has a market cap of $342.15 million, a price-to-earnings ratio of 15.56 and a beta of 1.75. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $54.79. The company's fifty day moving average price is $31.41 and its 200 day moving average price is $34.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings results 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 return on equity of 3.31% and a net margin of 1.18%. The company had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. As a group, analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.
Olympic Steel Dividend Announcement
The company also recently announced 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 is Monday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 2.09%. Olympic Steel's dividend payout ratio is currently 44.76%.
Olympic Steel Company Profile
(
Free Report)
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.
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