GAMMA Investing LLC Raises Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

GAMMA Investing LLC boosted its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 3,455.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,333 shares of the basic materials company’s stock after purchasing an additional 12,958 shares during the quarter. GAMMA Investing LLC owned approximately 0.12% of Olympic Steel worth $423,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ZEUS. Versant Capital Management Inc increased its holdings in shares of Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 586 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC acquired a new stake in shares of Olympic Steel during the fourth quarter worth about $216,000. Los Angeles Capital Management LLC increased its position in Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 770 shares during the period. Finally, State of Wyoming increased its position in Olympic Steel by 17.6% in the 4th quarter. State of Wyoming now owns 8,236 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 1,233 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Down 0.2%

Shares of NASDAQ ZEUS opened at $30.99 on Friday. The stock has a fifty day moving average price of $31.35 and a 200 day moving average price of $33.12. The company has a current ratio of 3.16, a quick ratio of 1.25 and a debt-to-equity ratio of 0.41. The company has a market cap of $345.85 million, a P/E ratio of 21.67 and a beta of 1.66. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $51.66.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a net margin of 0.88% and a return on equity of 2.16%. The business had revenue of $492.94 million for the quarter, compared to analyst estimates of $466.80 million. Research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 2.07%. Olympic Steel’s payout ratio is currently 44.76%.

Analyst Ratings Changes

ZEUS has been the topic of several research analyst reports. Wall Street Zen lowered Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st. KeyCorp cut their target price on Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th.

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.