Russell Investments Group Ltd. Sells 23,238 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Russell Investments Group Ltd. lowered its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 28.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,538 shares of the basic materials company's stock after selling 23,238 shares during the period. Russell Investments Group Ltd. owned approximately 0.53% of Olympic Steel worth $1,953,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of ZEUS. New Age Alpha Advisors LLC bought a new stake in Olympic Steel during the 4th quarter valued at $59,000. HighTower Advisors LLC purchased a new stake in Olympic Steel during the 3rd quarter worth about $202,000. Magnetar Financial LLC purchased a new stake in Olympic Steel during the 4th quarter worth about $216,000. Los Angeles Capital Management LLC boosted its stake 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 purchasing an additional 770 shares during the period. Finally, SG Americas Securities LLC grew its holdings 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 buying an additional 1,820 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS traded up $0.09 on Thursday, hitting $31.32. The company's stock had a trading volume of 9,345 shares, compared to its average volume of 118,626. The company has a market capitalization of $349.63 million, a PE ratio of 15.90 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The company has a 50-day simple moving average of $32.02 and a 200 day simple moving average of $35.33. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $69.48.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $418.78 million during the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. Sell-side analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.16 dividend. The ex-dividend date was Monday, March 3rd. This is a positive change from Olympic Steel's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.04%. Olympic Steel's payout ratio is 32.49%.

Analyst Ratings Changes

A number of research firms have recently commented on ZEUS. StockNews.com lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st. KeyCorp raised their price target on shares of Olympic Steel from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, February 24th.

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.