Shell Asset Management Co. Has $685,000 Position in Olympic Steel, Inc. (ZEUS)
Shell Asset Management Co. maintained its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 35,156 shares of the basic materials company’s stock at the end of the second quarter. Shell Asset Management Co.’s holdings in Olympic Steel were worth $685,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of ZEUS. Capstone Asset Management Co. increased its position in Olympic Steel by 5.4% in the second quarter. Capstone Asset Management Co. now owns 11,526 shares of the basic materials company’s stock valued at $225,000 after buying an additional 590 shares during the last quarter. Goldman Sachs Group Inc. increased its position in Olympic Steel by 36.6% in the first quarter. Goldman Sachs Group Inc. now owns 42,510 shares of the basic materials company’s stock valued at $789,000 after buying an additional 11,397 shares during the last quarter. Scopus Asset Management L.P. purchased a new position in Olympic Steel during the first quarter valued at about $1,912,000. Highbridge Capital Management LLC purchased a new position in Olympic Steel during the first quarter valued at about $278,000. Finally, Bank of America Corp DE increased its position in Olympic Steel by 112.2% in the first quarter. Bank of America Corp DE now owns 14,090 shares of the basic materials company’s stock valued at $262,000 after buying an additional 7,449 shares during the last quarter. Hedge funds and other institutional investors own 69.72% of the company’s stock.
Olympic Steel, Inc. (NASDAQ:ZEUS) opened at 17.13 on Friday. The company has a 50 day moving average price of $18.29 and a 200 day moving average price of $19.59. Olympic Steel, Inc. has a 52-week low of $15.83 and a 52-week high of $28.67. The firm has a market capitalization of $187.86 million, a P/E ratio of 22.51 and a beta of 1.73.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The firm had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $365 million. During the same period in the previous year, the company earned $0.32 earnings per share. On average, equities analysts forecast that Olympic Steel, Inc. will post $1.22 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be given a $0.02 dividend. The ex-dividend date is Wednesday, August 30th. This represents a $0.08 dividend on an annualized basis and a yield of 0.47%. Olympic Steel’s dividend payout ratio (DPR) is presently 10.67%.
Several research firms recently issued reports on ZEUS. Zacks Investment Research raised Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Jefferies Group LLC reissued a “hold” rating on shares of Olympic Steel in a research report on Friday, July 7th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Olympic Steel presently has a consensus rating of “Hold” and an average price target of $23.00.
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.
Want to see what other hedge funds are holding ZEUS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Olympic Steel, Inc. (NASDAQ:ZEUS).
Receive News & Ratings for Olympic Steel Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel Inc. and related companies with MarketBeat.com's FREE daily email newsletter.