Royce & Associates LP trimmed its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 36.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,221 shares of the basic materials company's stock after selling 17,975 shares during the quarter. Royce & Associates LP owned approximately 0.28% of Olympic Steel worth $1,024,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Wedge Capital Management L L P NC lifted its holdings in 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 valued at $833,000 after purchasing an additional 705 shares during the last quarter. Los Angeles Capital Management LLC boosted its holdings in Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock worth $247,000 after buying an additional 770 shares during the period. Van ECK Associates Corp grew its stake in Olympic Steel by 3.7% in the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock valued at $724,000 after buying an additional 780 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in 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 valued at $893,000 after acquiring an additional 1,432 shares during the period. Finally, SG Americas Securities LLC raised its holdings in Olympic Steel by 29.0% during the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock valued at $266,000 after acquiring an additional 1,820 shares during the period. 87.07% of the stock is owned by institutional investors.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on the company. KeyCorp lifted their price target on 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 report on Saturday, March 1st.
Read Our Latest Research Report on Olympic Steel
Olympic Steel Price Performance
Olympic Steel stock traded up $0.11 during midday trading on Wednesday, reaching $32.64. 53,757 shares of the stock were exchanged, compared to its average volume of 111,136. The company's fifty day moving average is $34.03 and its 200-day moving average is $36.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. Olympic Steel, Inc. has a 52 week low of $30.29 and a 52 week high of $73.27. The firm has a market cap of $363.48 million, a PE ratio of 16.57 and a beta of 1.48.
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 (EPS) for the quarter, topping analysts' consensus estimates of $0.08 by $0.05. The company had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, sell-side analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current year.
Olympic Steel Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Monday, March 3rd. This is an increase from Olympic Steel's previous quarterly dividend of $0.15. Olympic Steel's dividend payout ratio (DPR) is 32.49%.
Olympic Steel Company 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.
Read More
Before you consider Olympic Steel, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Olympic Steel wasn't on the list.
While Olympic Steel currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
