Vanguard Group Inc. Sells 23,242 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Vanguard Group Inc. trimmed its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 3.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 608,244 shares of the basic materials company's stock after selling 23,242 shares during the period. Vanguard Group Inc. owned about 5.46% of Olympic Steel worth $19,956,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. KLP Kapitalforvaltning AS acquired a new position in Olympic Steel in the fourth quarter worth approximately $548,000. Sei Investments Co. increased its stake in shares of Olympic Steel by 1.4% during the 4th quarter. Sei Investments Co. now owns 65,127 shares of the basic materials company's stock worth $2,137,000 after purchasing an additional 919 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of Olympic Steel by 8.0% during the 4th quarter. American Century Companies Inc. now owns 330,113 shares of the basic materials company's stock valued at $10,831,000 after purchasing an additional 24,538 shares in the last quarter. Magnetar Financial LLC bought a new position in shares of Olympic Steel during the 4th quarter valued at $216,000. Finally, AlphaQuest LLC lifted its stake in shares of Olympic Steel by 63.4% in the 4th quarter. AlphaQuest LLC now owns 25,174 shares of the basic materials company's stock valued at $826,000 after purchasing an additional 9,763 shares during the last quarter. Institutional investors and hedge funds own 87.07% of the company's stock.

Olympic Steel Stock Performance

ZEUS traded up $0.94 on Tuesday, hitting $30.76. 147,984 shares of the stock traded hands, compared to its average volume of 119,001. The business has a fifty day moving average price of $32.10 and a two-hundred day moving average price of $35.36. 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 52 week low of $26.32 and a 52 week high of $69.79. The firm has a market capitalization of $343.37 million, a PE ratio of 15.61 and a beta of 1.50.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $418.78 million during the quarter, compared to analysts' expectations of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, research analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.16 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 2.08%. This is a boost from Olympic Steel's previous quarterly dividend of $0.15. Olympic Steel's payout ratio is presently 32.49%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ZEUS shares. StockNews.com downgraded Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp boosted their price objective on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th.

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.