Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 31.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 147,533 shares of the basic materials company's stock after selling 66,960 shares during the quarter. JPMorgan Chase & Co. owned 1.33% of Olympic Steel worth $4,841,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in ZEUS. HighTower Advisors LLC acquired a new position in Olympic Steel during the 3rd quarter worth about $202,000. Barclays PLC increased its stake in Olympic Steel by 275.2% during the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock worth $606,000 after purchasing an additional 11,392 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Olympic Steel by 2.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company's stock worth $833,000 after purchasing an additional 705 shares in the last quarter. SG Americas Securities LLC boosted its stake in shares of 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 purchasing an additional 1,820 shares during the period. Finally, Exchange Traded Concepts LLC grew its holdings in shares of Olympic Steel by 5.6% in the fourth quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company's stock valued at $893,000 after purchasing an additional 1,432 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZEUS has been the subject of several recent research reports. 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 research report on Monday, February 24th. StockNews.com lowered Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

Olympic Steel Stock Down 2.5 %

NASDAQ ZEUS traded down $0.77 on Monday, hitting $29.82. 62,303 shares of the stock were exchanged, compared to its average volume of 118,601. The company has a market cap of $332.88 million, a PE ratio of 15.14 and a beta of 1.50. The company has a 50-day moving average price of $32.18 and a 200-day moving average price of $35.39. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $69.79. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping 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 company had revenue of $418.78 million during the quarter, compared to the consensus estimate of $441.60 million. Sell-side analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a $0.16 dividend. 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 2.15%. The ex-dividend date was Monday, March 3rd. Olympic Steel's dividend payout ratio is currently 32.49%.

About Olympic Steel

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.