Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 0.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 659,351 shares of the basic materials company’s stock after selling 898 shares during the period. Vanguard Group Inc. owned about 5.92% of Olympic Steel worth $37,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Invesco Ltd. raised its holdings in Olympic Steel by 36.2% in the 1st quarter. Invesco Ltd. now owns 957,825 shares of the basic materials company’s stock valued at $36,838,000 after acquiring an additional 254,383 shares during the last quarter. State Street Corp boosted its position in shares of Olympic Steel by 49.2% in the first quarter. State Street Corp now owns 633,865 shares of the basic materials company’s stock worth $33,094,000 after acquiring an additional 209,031 shares during the last quarter. BlackRock Inc. grew its holdings in Olympic Steel by 10.8% in the first quarter. BlackRock Inc. now owns 1,918,096 shares of the basic materials company’s stock valued at $73,769,000 after purchasing an additional 186,607 shares during the period. JPMorgan Chase & Co. increased its position in Olympic Steel by 165.4% during the second quarter. JPMorgan Chase & Co. now owns 203,051 shares of the basic materials company’s stock worth $5,228,000 after purchasing an additional 126,545 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Olympic Steel in the 4th quarter valued at $3,738,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Olympic Steel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd.

Olympic Steel Price Performance

Olympic Steel stock opened at $69.26 on Thursday. The firm has a fifty day moving average of $68.14 and a 200-day moving average of $61.25. Olympic Steel, Inc. has a 52-week low of $40.85 and a 52-week high of $73.49. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $770.86 million, a P/E ratio of 17.99 and a beta of 1.64.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. Olympic Steel had a net margin of 2.06% and a return on equity of 7.30%. The firm had revenue of $489.41 million during the quarter, compared to analysts’ expectations of $490.10 million. As a group, analysts predict that Olympic Steel, Inc. will post 3.41 EPS for the current year.

Olympic Steel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were paid a $0.15 dividend. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.87%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.13. Olympic Steel’s dividend payout ratio (DPR) is 15.58%.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. 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.