Brandywine Global Investment Management LLC Grows Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Brandywine Global Investment Management LLC boosted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 373.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 31,448 shares of the basic materials company’s stock after buying an additional 24,806 shares during the quarter. Brandywine Global Investment Management LLC owned 0.28% of Olympic Steel worth $1,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Dorsey Wright & Associates purchased a new position in shares of Olympic Steel during the first quarter valued at approximately $29,000. Quantbot Technologies LP grew its position in Olympic Steel by 42.1% in the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 337 shares during the last quarter. UBS Group AG increased its stake in Olympic Steel by 52.4% in the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 970 shares during the period. Victory Capital Management Inc. bought a new stake in shares of Olympic Steel during the fourth quarter worth $81,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Olympic Steel during the first quarter valued at $90,000. Institutional investors own 83.60% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Olympic Steel in a research note on Thursday, August 17th. They issued a “buy” rating on the stock.

Olympic Steel Stock Performance

Olympic Steel stock opened at $50.18 on Monday. Olympic Steel, Inc. has a fifty-two week low of $22.62 and a fifty-two week high of $58.84. The company has a market capitalization of $558.65 million, a PE ratio of 14.22 and a beta of 1.81. The company has a 50 day moving average price of $51.77 and a 200-day moving average price of $49.35. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.42 and a current ratio of 3.69.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $1.24 earnings per share for the quarter, missing the consensus estimate of $1.26 by ($0.02). Olympic Steel had a net margin of 1.78% and a return on equity of 8.40%. The firm had revenue of $569.27 million during the quarter, compared to the consensus estimate of $636.40 million. As a group, equities analysts forecast that Olympic Steel, Inc. will post 3.53 earnings per share for the current year.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Thursday, August 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.00%. Olympic Steel’s dividend payout ratio is currently 14.16%.

About Olympic Steel

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.