Engineers Gate Manager LP purchased a new stake in Olympic Steel (NASDAQ:ZEUS) during the 1st quarter, HoldingsChannel.com reports. The firm purchased 19,438 shares of the basic materials company’s stock, valued at approximately $399,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SG Americas Securities LLC acquired a new stake in shares of Olympic Steel in the 1st quarter valued at about $109,000. Globeflex Capital L P acquired a new stake in shares of Olympic Steel in the 4th quarter valued at about $132,000. Comerica Bank acquired a new stake in shares of Olympic Steel in the 4th quarter valued at about $228,000. Arizona State Retirement System acquired a new stake in shares of Olympic Steel in the 4th quarter valued at about $329,000. Finally, Virtu Financial LLC acquired a new stake in shares of Olympic Steel in the 4th quarter valued at about $396,000. 64.52% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms have issued reports on ZEUS. BidaskClub raised Olympic Steel from a “hold” rating to a “buy” rating in a research note on Friday, February 16th. Zacks Investment Research cut Olympic Steel from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 15th.
Shares of NASDAQ ZEUS opened at $22.78 on Friday. The stock has a market capitalization of $254.51 million, a PE ratio of 19.31, a P/E/G ratio of 1.25 and a beta of 1.85. The company has a debt-to-equity ratio of 0.89, a current ratio of 3.68 and a quick ratio of 1.35. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $25.84.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, May 3rd. The basic materials company reported $0.70 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.02. The company had revenue of $376.00 million during the quarter, compared to analysts’ expectations of $397.00 million. Olympic Steel had a return on equity of 5.62% and a net margin of 1.38%. Olympic Steel’s revenue for the quarter was up 12.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. sell-side analysts forecast that Olympic Steel will post 2.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 15th. Stockholders of record on Friday, June 1st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.35%. The ex-dividend date of this dividend is Thursday, May 31st. Olympic Steel’s payout ratio is 6.78%.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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