Prudential Financial Inc. grew its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 27.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,433 shares of the basic materials company's stock after purchasing an additional 21,403 shares during the quarter. Prudential Financial Inc. owned approximately 0.89% of Olympic Steel worth $3,262,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in Olympic Steel during the third quarter worth about $184,000. HighTower Advisors LLC acquired a new position in shares of Olympic Steel during the 3rd quarter valued at about $202,000. Magnetar Financial LLC purchased a new position in shares of Olympic Steel during the 4th quarter worth about $216,000. Los Angeles Capital Management LLC boosted its position in shares of 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 worth $247,000 after acquiring an additional 770 shares during the last quarter. Finally, SG Americas Securities LLC grew its holdings in 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. Hedge funds and other institutional investors own 87.07% of the company's stock.
Olympic Steel Trading Up 0.2 %
Shares of NASDAQ:ZEUS traded up $0.07 during trading on Monday, reaching $29.00. 152,521 shares of the stock were exchanged, compared to its average volume of 117,431. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $73.27. The firm's 50-day moving average price is $33.42 and its 200 day moving average price is $36.09. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The firm has a market cap of $323.73 million, a price-to-earnings ratio of 14.72 and a beta of 1.50.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $418.78 million during the quarter, compared to the consensus estimate of $441.60 million. On average, sell-side 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. This is an increase from Olympic Steel's previous quarterly dividend of $0.15. This represents a $0.64 annualized dividend and a yield of 2.21%. The ex-dividend date of this dividend was Monday, March 3rd. Olympic Steel's dividend payout ratio is currently 32.49%.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on the stock. KeyCorp increased their price target 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. StockNews.com lowered Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.
Read Our Latest Stock Report on ZEUS
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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