Olympic Steel, Inc. (ZEUS) Shares Bought by Globeflex Capital L P
Globeflex Capital L P grew its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 18.0% during the first quarter, HoldingsChannel reports. The firm owned 31,976 shares of the basic materials company’s stock after buying an additional 4,876 shares during the quarter. Globeflex Capital L P’s holdings in Olympic Steel were worth $507,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of ZEUS. Bank of New York Mellon Corp raised its holdings in shares of Olympic Steel by 2.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 133,089 shares of the basic materials company’s stock valued at $2,777,000 after purchasing an additional 3,662 shares in the last quarter. Morgan Stanley raised its holdings in shares of Olympic Steel by 9.3% during the 3rd quarter. Morgan Stanley now owns 170,485 shares of the basic materials company’s stock valued at $3,559,000 after purchasing an additional 14,514 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 753,929 shares of the basic materials company’s stock valued at $15,735,000 after purchasing an additional 84,066 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc now owns 753,929 shares of the basic materials company’s stock valued at $15,735,000 after purchasing an additional 84,066 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Olympic Steel by 11.1% during the 4th quarter. Bank of Montreal Can now owns 10,432 shares of the basic materials company’s stock valued at $150,000 after purchasing an additional 1,039 shares in the last quarter. Institutional investors own 66.05% of the company’s stock.
A number of research firms have recently weighed in on ZEUS. Zacks Investment Research downgraded shares of Olympic Steel from a “hold” rating to a “strong sell” rating in a report on Saturday, May 11th. Singular Research reiterated a “buy” rating on shares of Olympic Steel in a report on Wednesday, March 13th. Finally, ValuEngine downgraded shares of Olympic Steel from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th.
Shares of ZEUS opened at $12.38 on Monday. The firm has a market capitalization of $136.24 million, a P/E ratio of 3.53 and a beta of 2.19. Olympic Steel, Inc. has a one year low of $12.09 and a one year high of $24.23. The company has a current ratio of 4.34, a quick ratio of 1.69 and a debt-to-equity ratio of 1.09.
Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, May 2nd. The basic materials company reported $0.18 EPS for the quarter, missing the consensus estimate of $0.22 by ($0.04). The firm had revenue of $445.90 million during the quarter, compared to the consensus estimate of $437.30 million. Olympic Steel had a return on equity of 11.24% and a net margin of 1.58%. The business’s revenue was up 18.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.70 EPS. On average, research analysts expect that Olympic Steel, Inc. will post 0.82 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Investors of record on Monday, June 3rd will be issued a $0.02 dividend. The ex-dividend date is Friday, May 31st. This represents a $0.08 annualized dividend and a yield of 0.65%. Olympic Steel’s dividend payout ratio (DPR) is presently 2.28%.
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About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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