Barclays PLC cut its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS – Free Report) by 64.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,085 shares of the basic materials company’s stock after selling 12,577 shares during the period. Barclays PLC owned approximately 0.06% of Olympic Steel worth $369,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ZEUS. BlackRock Inc. lifted its holdings in shares of Olympic Steel by 1.1% during the 3rd quarter. BlackRock Inc. now owns 2,125,957 shares of the basic materials company’s stock valued at $48,492,000 after purchasing an additional 24,020 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Olympic Steel by 36.2% in the first quarter. Invesco Ltd. now owns 957,825 shares of the basic materials company’s stock valued at $36,838,000 after buying an additional 254,383 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Olympic Steel by 0.9% during the first quarter. Dimensional Fund Advisors LP now owns 880,451 shares of the basic materials company’s stock worth $33,861,000 after acquiring an additional 7,798 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Olympic Steel by 1.3% during the first quarter. Vanguard Group Inc. now owns 655,712 shares of the basic materials company’s stock worth $25,218,000 after acquiring an additional 8,613 shares during the period. Finally, State Street Corp lifted its position in Olympic Steel by 1.2% in the 3rd quarter. State Street Corp now owns 407,812 shares of the basic materials company’s stock valued at $9,302,000 after acquiring an additional 4,812 shares in the last quarter. 83.60% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Separately, StockNews.com initiated coverage on Olympic Steel in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.
Olympic Steel Trading Up 0.6 %
NASDAQ ZEUS opened at $52.72 on Thursday. Olympic Steel, Inc. has a 52 week low of $22.62 and a 52 week high of $58.84. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.42 and a current ratio of 3.69. The stock’s 50 day moving average price is $50.88 and its two-hundred day moving average price is $49.11. The stock has a market capitalization of $586.77 million, a price-to-earnings ratio of 14.93 and a beta of 1.80.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $1.24 EPS for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.02). The business had revenue of $569.27 million during the quarter, compared to the consensus estimate of $636.40 million. Olympic Steel had a return on equity of 8.40% and a net margin of 1.78%. As a group, analysts anticipate that Olympic Steel, Inc. will post 3.53 earnings per share for the current fiscal year.
Olympic Steel Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be issued a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 31st. Olympic Steel’s payout ratio is 14.16%.
Olympic Steel Profile
Olympic Steel, Inc processes, distributes, and stores 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 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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