Dimensional Fund Advisors LP Decreases Stake in Olympic Steel, Inc. (ZEUS)
Dimensional Fund Advisors LP lowered its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 921,156 shares of the basic materials company’s stock after selling 4,918 shares during the quarter. Dimensional Fund Advisors LP owned about 8.40% of Olympic Steel worth $17,944,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Wells Fargo & Company MN grew its position in Olympic Steel by 128.5% during the first quarter. Wells Fargo & Company MN now owns 15,245 shares of the basic materials company’s stock worth $283,000 after buying an additional 8,574 shares in the last quarter. Bank of New York Mellon Corp grew its position in Olympic Steel by 2.0% during the first quarter. Bank of New York Mellon Corp now owns 144,755 shares of the basic materials company’s stock worth $2,687,000 after buying an additional 2,791 shares in the last quarter. Vanguard Group Inc. grew its position in Olympic Steel by 7.4% during the first quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock worth $9,042,000 after buying an additional 33,491 shares in the last quarter. Prudential Financial Inc. grew its position in Olympic Steel by 206.5% during the second quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock worth $1,946,000 after buying an additional 67,281 shares in the last quarter. Finally, Ameriprise Financial Inc. grew its position in Olympic Steel by 46.3% during the second quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock worth $3,969,000 after buying an additional 64,491 shares in the last quarter. 68.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of Olympic Steel, Inc. (ZEUS) opened at $19.40 on Friday. The stock has a market capitalization of $212.74, a P/E ratio of 19.59 and a beta of 1.77. Olympic Steel, Inc. has a 12-month low of $15.83 and a 12-month high of $28.67. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.56 and a current ratio of 4.23.
Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.05. Olympic Steel had a return on equity of 4.32% and a net margin of 0.99%. The firm had revenue of $331.44 million during the quarter, compared to analysts’ expectations of $323.05 million. During the same period in the prior year, the company earned ($0.16) earnings per share. The company’s quarterly revenue was up 23.5% on a year-over-year basis. analysts forecast that Olympic Steel, Inc. will post 1.12 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Friday, December 1st will be paid a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.41%. The ex-dividend date is Thursday, November 30th. Olympic Steel’s payout ratio is presently 7.21%.
In other Olympic Steel news, COO Andrew S. Greiff bought 3,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was purchased at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the completion of the purchase, the chief operating officer now directly owns 9,021 shares of the company’s stock, valued at $160,122.75. The acquisition was disclosed in a filing with the SEC, which is available at this link. 18.29% of the stock is owned by corporate insiders.
A number of brokerages recently issued reports on ZEUS. Zacks Investment Research raised Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday. KeyCorp reissued a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th. Four analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.33.
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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.
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