Proficio Capital Partners LLC Purchases New Shares in Olympic Steel, Inc. (NASDAQ:ZEUS)

Proficio Capital Partners LLC purchased a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 15,027 shares of the basic materials company's stock, valued at approximately $493,000. Proficio Capital Partners LLC owned about 0.14% of Olympic Steel as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC raised its stake in Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock valued at $247,000 after buying an additional 770 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Olympic Steel by 23.1% in the fourth 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 acquiring an additional 22,908 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Olympic Steel by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock worth $724,000 after purchasing an additional 780 shares during the period. Empowered Funds LLC grew its holdings in shares of Olympic Steel by 5.1% during the 4th quarter. Empowered Funds LLC now owns 60,805 shares of the basic materials company's stock worth $1,995,000 after purchasing an additional 2,934 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Olympic Steel by 5.6% during the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company's stock worth $893,000 after acquiring an additional 1,432 shares during the period. 87.07% of the stock is owned by institutional investors.

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Olympic Steel Trading Down 2.3 %

Olympic Steel stock traded down $0.73 during trading hours on Friday, reaching $31.61. 80,948 shares of the company's stock were exchanged, compared to its average volume of 116,325. Olympic Steel, Inc. has a twelve month low of $30.29 and a twelve month high of $73.27. 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 firm's 50 day simple moving average is $33.94 and its 200 day simple moving average is $36.45. The firm has a market capitalization of $352.01 million, a PE ratio of 16.05 and a beta of 1.48.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly 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 firm 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%. Research analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.16 per share. 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. This is a positive change from Olympic Steel's previous quarterly dividend of $0.15. Olympic Steel's payout ratio is 32.49%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ZEUS. KeyCorp increased their target price on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an "overweight" rating in a 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 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.