Geode Capital Management LLC Raises Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Geode Capital Management LLC boosted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 233,615 shares of the basic materials company’s stock after buying an additional 1,300 shares during the period. Geode Capital Management LLC owned 2.10% of Olympic Steel worth $7,667,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ZEUS. New Age Alpha Advisors LLC purchased a new stake in shares of Olympic Steel during the fourth quarter worth approximately $59,000. HighTower Advisors LLC acquired a new stake in Olympic Steel during the 3rd quarter worth $202,000. Magnetar Financial LLC purchased a new stake in shares of Olympic Steel during the fourth quarter worth $216,000. Los Angeles Capital Management LLC raised its position in shares of Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after buying an additional 770 shares during the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Olympic Steel by 29.0% in the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock worth $266,000 after buying an additional 1,820 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Stock Up 1.9 %

NASDAQ ZEUS opened at $31.83 on Friday. The business’s fifty day simple moving average is $31.95 and its 200-day simple moving average is $35.28. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a market cap of $355.32 million, a PE ratio of 16.16 and a beta of 1.50. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $68.56.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. As a group, equities analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.01%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 3rd. Olympic Steel’s dividend payout ratio is presently 32.49%.

Analyst Ratings Changes

Several brokerages recently issued reports on ZEUS. StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. KeyCorp upped their price target on Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Olympic Steel 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.