Teachers Advisors LLC Purchases 999 Shares of Olympic Steel, Inc. (ZEUS)
Teachers Advisors LLC increased its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 6.3% during the fourth quarter, Holdings Channel reports. The fund owned 16,868 shares of the basic materials company’s stock after buying an additional 999 shares during the period. Teachers Advisors LLC’s holdings in Olympic Steel were worth $409,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Russell Investments Group Ltd. acquired a new stake in Olympic Steel during the fourth quarter valued at about $1,924,000. Renaissance Technologies LLC raised its stake in Olympic Steel by 21.6% in the fourth quarter. Renaissance Technologies LLC now owns 194,500 shares of the basic materials company’s stock valued at $4,713,000 after buying an additional 34,600 shares in the last quarter. Two Sigma Investments LP raised its stake in Olympic Steel by 138.2% in the fourth quarter. Two Sigma Investments LP now owns 41,852 shares of the basic materials company’s stock valued at $1,014,000 after buying an additional 24,285 shares in the last quarter. State Street Corp raised its stake in Olympic Steel by 5.0% in the fourth quarter. State Street Corp now owns 214,356 shares of the basic materials company’s stock valued at $5,190,000 after buying an additional 10,296 shares in the last quarter. Finally, Comerica Bank acquired a new stake in Olympic Steel during the fourth quarter valued at about $235,000. 73.66% of the stock is owned by hedge funds and other institutional investors.
Shares of Olympic Steel, Inc. (NASDAQ ZEUS) opened at 16.79 on Friday. The company’s 50-day moving average price is $18.18 and its 200 day moving average price is $21.59. Olympic Steel, Inc. has a 1-year low of $15.83 and a 1-year high of $31.19. The company has a market cap of $184.07 million, a price-to-earnings ratio of 25.59 and a beta of 1.73.
Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Friday, April 28th. The basic materials company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.11. The company had revenue of $334.90 million during the quarter, compared to the consensus estimate of $305.41 million. Olympic Steel had a net margin of 0.65% and a return on equity of 2.41%. Olympic Steel’s quarterly revenue was up 29.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.07) EPS. On average, analysts predict that Olympic Steel, Inc. will post $1.20 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Thursday, June 1st were issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.48%. The ex-dividend date was Tuesday, May 30th. Olympic Steel’s dividend payout ratio is currently 12.31%.
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Several research firms recently issued reports on ZEUS. Jefferies Group LLC dropped their price objective on Olympic Steel from $26.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, April 19th. Zacks Investment Research lowered Olympic Steel from a “strong-buy” rating to a “hold” rating in a research note on Thursday, May 4th. Finally, Macquarie raised Olympic Steel from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 14th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $23.00.
In other news, Director Michael G. Rippey bought 1,500 shares of the company’s stock in a transaction that occurred on Friday, May 12th. The stock was bought at an average price of $17.10 per share, with a total value of $25,650.00. Following the acquisition, the director now owns 13,800 shares of the company’s stock, valued at approximately $235,980. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ratta Ralph M. Della, Jr. bought 1,325 shares of the company’s stock in a transaction that occurred on Friday, May 5th. The stock was purchased at an average cost of $18.89 per share, with a total value of $25,029.25. Following the acquisition, the director now directly owns 12,795 shares in the company, valued at approximately $241,697.55. The disclosure for this purchase can be found here. Insiders purchased a total of 9,375 shares of company stock valued at $174,452 in the last ninety days. 18.29% of the stock is currently owned by insiders.
About Olympic Steel
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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