Bluestein R H & Co. Trims Stake in Olympic Steel, Inc. (ZEUS)
Bluestein R H & Co. reduced its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 20.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,000 shares of the basic materials company’s stock after selling 5,000 shares during the period. Bluestein R H & Co. owned about 0.18% of Olympic Steel worth $440,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ZEUS. TIAA CREF Investment Management LLC grew its position in shares of Olympic Steel by 31.9% during the 1st quarter. TIAA CREF Investment Management LLC now owns 34,957 shares of the basic materials company’s stock valued at $649,000 after acquiring an additional 8,454 shares during the period. Vanguard Group Inc. grew its position in shares of Olympic Steel by 7.4% during the 1st quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock valued at $9,042,000 after acquiring an additional 33,491 shares during the period. Geode Capital Management LLC grew its position in shares of Olympic Steel by 3.4% during the 1st quarter. Geode Capital Management LLC now owns 75,780 shares of the basic materials company’s stock valued at $1,406,000 after acquiring an additional 2,467 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Olympic Steel by 0.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 926,074 shares of the basic materials company’s stock valued at $17,188,000 after acquiring an additional 3,394 shares during the period. Finally, Bank of America Corp DE grew its position in shares of Olympic Steel by 112.2% during the 1st quarter. Bank of America Corp DE now owns 14,090 shares of the basic materials company’s stock valued at $262,000 after acquiring an additional 7,449 shares during the period. 68.01% of the stock is owned by hedge funds and other institutional investors.
ZEUS has been the subject of a number of research reports. Zacks Investment Research raised shares of Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research note on Tuesday, September 19th.
Shares of Olympic Steel, Inc. (NASDAQ ZEUS) opened at $20.55 on Wednesday. The company has a market cap of $227.66, a P/E ratio of 20.96, a P/E/G ratio of 2.24 and a beta of 1.79. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.54 and a current ratio of 4.23. Olympic Steel, Inc. has a 52 week low of $15.83 and a 52 week high of $28.48.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating the Zacks’ consensus estimate of $0.15 by $0.05. The company had revenue of $331.44 million for the quarter, compared to analysts’ expectations of $323.05 million. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. Olympic Steel’s revenue was up 23.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.16) EPS. research analysts predict that Olympic Steel, Inc. will post 1.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.39%. The ex-dividend date of this dividend is Thursday, November 30th. Olympic Steel’s payout ratio is currently 7.21%.
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Olympic Steel Company 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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