Arizona State Retirement System Purchases Shares of 15,306 Olympic Steel, Inc. (ZEUS)
Arizona State Retirement System purchased a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 15,306 shares of the basic materials company’s stock, valued at approximately $329,000. Arizona State Retirement System owned 0.14% of Olympic Steel at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in the stock. California Public Employees Retirement System increased its holdings in Olympic Steel by 9.3% during the 4th quarter. California Public Employees Retirement System now owns 75,330 shares of the basic materials company’s stock valued at $1,619,000 after purchasing an additional 6,430 shares during the period. Crossmark Global Holdings Inc. boosted its position in Olympic Steel by 68.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 20,212 shares of the basic materials company’s stock valued at $434,000 after acquiring an additional 8,206 shares in the last quarter. Comerica Bank bought a new stake in Olympic Steel during the 4th quarter valued at approximately $228,000. Foundry Partners LLC boosted its position in Olympic Steel by 14.8% during the 4th quarter. Foundry Partners LLC now owns 275,690 shares of the basic materials company’s stock valued at $5,925,000 after acquiring an additional 35,575 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its position in Olympic Steel by 72,243.2% during the 4th quarter. Acadian Asset Management LLC now owns 31,831 shares of the basic materials company’s stock valued at $685,000 after acquiring an additional 31,787 shares in the last quarter. Institutional investors own 65.55% of the company’s stock.
Shares of Olympic Steel stock opened at $22.12 on Thursday. The company has a current ratio of 3.78, a quick ratio of 1.30 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $239.99, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.47 and a beta of 1.86. Olympic Steel, Inc. has a 12-month low of $15.83 and a 12-month high of $25.84.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st were given a dividend of $0.02 per share. The ex-dividend date was Wednesday, February 28th. This represents a $0.08 annualized dividend and a yield of 0.36%. Olympic Steel’s payout ratio is 4.79%.
Several analysts have weighed in on ZEUS shares. BidaskClub raised Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research cut Olympic Steel from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 15th. Finally, KeyCorp reaffirmed a “hold” rating on shares of Olympic Steel in a research report on Friday, November 24th.
Olympic Steel Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.