Russell Investments Group Ltd. Buys 19,039 Shares of Olympic Steel, Inc. $ZEUS

Russell Investments Group Ltd. lifted its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 32.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 78,577 shares of the basic materials company’s stock after acquiring an additional 19,039 shares during the period. Russell Investments Group Ltd. owned approximately 0.70% of Olympic Steel worth $2,477,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its position in shares of Olympic Steel by 0.4% in the first quarter. Vanguard Group Inc. now owns 610,747 shares of the basic materials company’s stock worth $19,251,000 after buying an additional 2,503 shares in the last quarter. Bridgeway Capital Management LLC raised its position in shares of Olympic Steel by 1.6% in the fourth quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company’s stock worth $6,096,000 after buying an additional 2,934 shares in the last quarter. Nuveen LLC purchased a new stake in shares of Olympic Steel in the first quarter worth $5,637,000. Nuveen Asset Management LLC raised its position in shares of Olympic Steel by 5.7% in the fourth quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company’s stock worth $5,692,000 after buying an additional 9,316 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its position in shares of Olympic Steel by 34.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company’s stock worth $5,415,000 after buying an additional 42,267 shares in the last quarter. 87.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. KeyCorp lowered their price objective on Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. Wall Street Zen downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Olympic Steel currently has a consensus rating of “Buy” and an average target price of $38.00.

Olympic Steel Trading Up 5.6%

NASDAQ ZEUS opened at $33.56 on Monday. The stock’s 50-day simple moving average is $32.56 and its two-hundred day simple moving average is $32.23. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The company has a market capitalization of $375.87 million, a price-to-earnings ratio of 27.51 and a beta of 1.72.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Olympic Steel had a net margin of 0.77% and a return on equity of 1.95%. The firm had revenue of $496.48 million for the quarter, compared to analysts’ expectations of $506.60 million. Research analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.16 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Olympic Steel’s dividend payout ratio (DPR) is presently 52.46%.

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.