Charles Schwab Investment Management Inc. Sells 32,853 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Charles Schwab Investment Management Inc. trimmed its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 34.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 62,681 shares of the basic materials company's stock after selling 32,853 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.56% of Olympic Steel worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock worth $8,365,000 after acquiring an additional 123,632 shares during the last quarter. Jane Street Group LLC boosted its holdings in shares of Olympic Steel by 1,165.8% in the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company's stock worth $7,884,000 after purchasing an additional 186,192 shares during the period. Bank of New York Mellon Corp increased its position in shares of Olympic Steel by 23.1% during the 4th quarter. Bank of New York Mellon Corp now owns 122,269 shares of the basic materials company's stock valued at $4,012,000 after purchasing an additional 22,908 shares during the last quarter. Walleye Capital LLC purchased a new stake in Olympic Steel during the 3rd quarter valued at $3,978,000. Finally, Empowered Funds LLC lifted its position in Olympic Steel by 5.1% in the fourth quarter. Empowered Funds LLC now owns 60,805 shares of the basic materials company's stock worth $1,995,000 after buying an additional 2,934 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors.

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Analyst Ratings Changes

ZEUS has been the topic of a number of analyst reports. KeyCorp boosted their price objective 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 downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.

Olympic Steel Trading Up 0.8 %

Shares of NASDAQ ZEUS traded up $0.26 during midday trading on Wednesday, hitting $31.66. The company's stock had a trading volume of 44,156 shares, compared to its average volume of 116,272. Olympic Steel, Inc. has a 12-month low of $30.29 and a 12-month high of $73.27. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The firm has a market cap of $352.57 million, a P/E ratio of 16.07 and a beta of 1.48. The business's 50 day moving average is $33.80 and its two-hundred day moving average is $36.32.

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

Olympic Steel Increases Dividend

The business also recently announced 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 an increase from Olympic Steel's previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend 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.