Crossmark Global Holdings Inc. boosted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 68.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 20,212 shares of the basic materials company’s stock after acquiring an additional 8,206 shares during the quarter. Crossmark Global Holdings Inc. owned 0.18% of Olympic Steel worth $434,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company increased its position in Olympic Steel by 12.6% during the second 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 last quarter. Comerica Bank purchased a new stake in Olympic Steel in the fourth quarter worth about $228,000. Algert Global LLC purchased a new stake in Olympic Steel in the third quarter worth about $261,000. Dynamic Technology Lab Private Ltd purchased a new stake in Olympic Steel in the second quarter worth about $280,000. Finally, Wells Fargo & Company MN increased its position in Olympic Steel by 30.2% in the second quarter. Wells Fargo & Company MN now owns 19,845 shares of the basic materials company’s stock worth $386,000 after buying an additional 4,600 shares in the last quarter. Institutional investors own 66.89% of the company’s stock.
Shares of Olympic Steel, Inc. (NASDAQ ZEUS) opened at $24.48 on Thursday. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.23 and a quick ratio of 1.54. The company has a market capitalization of $268.47, a PE ratio of 22.05, a price-to-earnings-growth ratio of 1.68 and a beta of 1.90. Olympic Steel, Inc. has a 1 year low of $15.83 and a 1 year high of $27.16.
The business also recently declared a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be given a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.33%. The ex-dividend date is Wednesday, February 28th. Olympic Steel’s payout ratio is 7.21%.
ZEUS has been the subject of a number of analyst reports. Zacks Investment Research upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Friday, November 24th. Finally, BidaskClub upgraded Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $20.50.
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Olympic Steel Company Profile
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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