New York State Teachers Retirement System Has $1.45 Million Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

New York State Teachers Retirement System grew its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 1.9% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 21,741 shares of the basic materials company’s stock after acquiring an additional 400 shares during the period. New York State Teachers Retirement System’s holdings in Olympic Steel were worth $1,450,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Quantbot Technologies LP lifted its stake in shares of Olympic Steel by 42.1% in the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock worth $43,000 after acquiring an additional 337 shares during the period. UBS Group AG raised its holdings in Olympic Steel by 52.4% during the 2nd 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 last quarter. Victory Capital Management Inc. acquired a new position in shares of Olympic Steel in the 4th quarter worth approximately $81,000. Teachers Retirement System of The State of Kentucky bought a new stake in shares of Olympic Steel in the 3rd quarter valued at $95,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Olympic Steel in the 1st quarter valued at $103,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Analyst Ratings Changes

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

Olympic Steel Stock Down 0.6 %

Shares of Olympic Steel stock opened at $67.92 on Thursday. The stock’s 50-day moving average is $68.30 and its 200 day moving average is $61.74. Olympic Steel, Inc. has a one year low of $40.85 and a one year high of $73.49. The firm has a market cap of $755.95 million, a price-to-earnings ratio of 17.64 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a current ratio of 3.35 and a quick ratio of 1.20.

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

Olympic Steel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. This is a boost from Olympic Steel’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 1st. Olympic Steel’s dividend payout ratio (DPR) is presently 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.