Alambic Investment Management L.P. decreased its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 49.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,197 shares of the basic materials company’s stock after selling 21,295 shares during the quarter. Alambic Investment Management L.P. owned 0.20% of Olympic Steel worth $477,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its stake in Olympic Steel by 12.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after acquiring an additional 934 shares during the period. Algert Global LLC purchased a new position in Olympic Steel in the 3rd quarter valued at $261,000. Crossmark Global Holdings Inc. purchased a new position in Olympic Steel in the 3rd quarter valued at $264,000. PNC Financial Services Group Inc. lifted its holdings in Olympic Steel by 0.3% in the 2nd quarter. PNC Financial Services Group Inc. now owns 12,676 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 39 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in Olympic Steel by 4.0% in the 2nd quarter. Citigroup Inc. now owns 12,888 shares of the basic materials company’s stock valued at $251,000 after purchasing an additional 490 shares in the last quarter. 67.81% of the stock is currently owned by institutional investors and hedge funds.
ZEUS has been the topic of a number of research reports. Zacks Investment Research lowered Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Friday, October 20th. BidaskClub upgraded Olympic Steel from a “hold” rating to a “buy” rating in a report on Tuesday, January 16th. Finally, KeyCorp reiterated a “hold” rating on shares of Olympic Steel in a report on Sunday, October 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.50.
Olympic Steel, Inc. (NASDAQ:ZEUS) traded up $0.02 during midday trading on Friday, hitting $23.82. The stock had a trading volume of 56,200 shares, compared to its average volume of 108,991. Olympic Steel, Inc. has a fifty-two week low of $15.83 and a fifty-two week high of $27.16. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.54 and a current ratio of 4.23. The stock has a market cap of $261.12, a price-to-earnings ratio of 24.04, a PEG ratio of 1.63 and a beta of 1.90.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Investors of record on Thursday, March 1st will be issued a $0.02 dividend. The ex-dividend date is Wednesday, February 28th. This represents a $0.08 annualized dividend and a yield of 0.34%. Olympic Steel’s dividend payout ratio (DPR) is currently 7.21%.
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About Olympic Steel
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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