Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP trimmed its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 1.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 901,198 shares of the basic materials company’s stock after selling 12,676 shares during the period. Dimensional Fund Advisors LP owned about 8.10% of Olympic Steel worth $40,400,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its position in shares of Olympic Steel by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 40,301 shares of the basic materials company’s stock valued at $1,807,000 after acquiring an additional 1,353 shares during the period. American Century Companies Inc. raised its position in shares of Olympic Steel by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after purchasing an additional 27,123 shares during the last quarter. ClariVest Asset Management LLC raised its position in shares of Olympic Steel by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock worth $624,000 after purchasing an additional 390 shares during the last quarter. Texas Permanent School Fund Corp raised its position in shares of Olympic Steel by 9.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 9,387 shares of the basic materials company’s stock worth $421,000 after purchasing an additional 813 shares during the last quarter. Finally, Rhumbline Advisers raised its position in shares of Olympic Steel by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 32,436 shares of the basic materials company’s stock worth $1,454,000 after purchasing an additional 1,469 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Stock Down 0.9 %

Shares of NASDAQ ZEUS opened at $39.00 on Tuesday. Olympic Steel, Inc. has a 52-week low of $34.81 and a 52-week high of $73.49. The firm has a fifty day moving average of $41.13 and a 200-day moving average of $50.90. The stock has a market capitalization of $434.07 million, a PE ratio of 10.40 and a beta of 1.48. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The firm had revenue of $526.25 million during the quarter. During the same period last year, the company posted $1.24 earnings per share.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were issued a $0.15 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.54%. Olympic Steel’s dividend payout ratio is currently 16.00%.

Analysts Set New Price Targets

Separately, StockNews.com upgraded Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th.

About Olympic Steel

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.