Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. lessened its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 60.4% in the fourth quarter, HoldingsChannel reports. The fund owned 3,042 shares of the basic materials company’s stock after selling 4,648 shares during the period. Stratos Wealth Partners LTD.’s holdings in Olympic Steel were worth $203,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. Quantbot Technologies LP lifted its holdings 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 valued at $43,000 after buying an additional 337 shares during the period. UBS Group AG lifted its holdings in shares of Olympic Steel by 52.4% in the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company’s stock valued at $73,000 after buying an additional 970 shares during the period. Victory Capital Management Inc. acquired a new stake in shares of Olympic Steel in the fourth quarter valued at $81,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Olympic Steel in the third quarter valued at $95,000. Finally, Fortis Capital Advisors LLC acquired a new stake in shares of Olympic Steel in the first quarter valued at $103,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Olympic Steel Trading Down 0.4 %

Shares of Olympic Steel stock opened at $68.34 on Wednesday. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34. The firm has a market cap of $760.62 million, a price-to-earnings ratio of 17.75 and a beta of 1.64. The business has a fifty day simple moving average of $68.27 and a 200-day simple moving average of $61.70. Olympic Steel, Inc. has a fifty-two week low of $40.85 and a fifty-two week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, February 22nd. The basic materials company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.24 by $0.12. Olympic Steel had a return on equity of 7.30% and a net margin of 2.06%. The business had revenue of $489.41 million during the quarter, compared to the consensus estimate of $490.10 million. On average, equities analysts forecast that Olympic Steel, Inc. will post 3.41 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 0.88%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.13. The ex-dividend date was Friday, March 1st. Olympic Steel’s dividend payout ratio is currently 15.58%.

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.