American Century Companies Inc. increased its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 8.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 330,113 shares of the basic materials company's stock after buying an additional 24,538 shares during the quarter. American Century Companies Inc. owned about 2.97% of Olympic Steel worth $10,831,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of Olympic Steel by 1,165.8% in the third quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company's stock worth $7,884,000 after acquiring an additional 186,192 shares in the last quarter. JPMorgan Chase & Co. raised its position in Olympic Steel by 136.1% in 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 during the period. FMR LLC raised its position in Olympic Steel by 423.4% in the third quarter. FMR LLC now owns 44,496 shares of the basic materials company's stock valued at $1,735,000 after purchasing an additional 35,995 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Olympic Steel by 23.1% during the fourth quarter. Bank of New York Mellon Corp now owns 122,269 shares of the basic materials company's stock worth $4,012,000 after purchasing an additional 22,908 shares in the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of Olympic Steel in the third quarter worth about $632,000. Institutional investors and hedge funds own 87.07% of the company's stock.
Analyst Ratings Changes
ZEUS has been the topic of several analyst reports. KeyCorp raised their target price on Olympic Steel from $42.00 to $43.00 and gave the company an "overweight" rating in a report on Monday, February 24th. StockNews.com lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st.
Read Our Latest Analysis on ZEUS
Olympic Steel Stock Up 0.2 %
Shares of Olympic Steel stock traded up $0.07 during trading hours on Monday, hitting $29.00. 152,521 shares of the company's stock traded hands, compared to its average volume of 117,436. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $73.27. The company has a market cap of $323.73 million, a PE ratio of 14.72 and a beta of 1.50. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The stock has a 50 day simple moving average of $33.42 and a 200-day simple moving average of $36.09.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $418.78 million during the quarter, compared to analyst estimates of $441.60 million. Equities research analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.
Olympic Steel Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This is a boost from Olympic Steel's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.21%. Olympic Steel's dividend payout ratio is currently 32.49%.
Olympic Steel 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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