Olympic Steel, Inc. (ZEUS) Shares Bought by GSA Capital Partners LLP
GSA Capital Partners LLP raised its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 35.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,300 shares of the basic materials company’s stock after acquiring an additional 29,600 shares during the quarter. GSA Capital Partners LLP owned approximately 1.03% of Olympic Steel worth $2,493,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Foundry Partners LLC lifted its position in shares of Olympic Steel by 5.2% in the 3rd quarter. Foundry Partners LLC now owns 240,115 shares of the basic materials company’s stock worth $5,283,000 after buying an additional 11,825 shares during the last quarter. Vanguard Group Inc. lifted its position in shares of Olympic Steel by 7.4% in the 1st 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 during the last quarter. Ameriprise Financial Inc. lifted its position in shares of Olympic Steel by 46.3% in the 2nd 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 during the last quarter. Prudential Financial Inc. lifted its position in shares of Olympic Steel by 206.5% in the 2nd 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 during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Olympic Steel in the 2nd quarter worth about $280,000. Hedge funds and other institutional investors own 68.01% of the company’s stock.
Olympic Steel, Inc. (ZEUS) opened at $21.41 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.23 and a quick ratio of 1.54. Olympic Steel, Inc. has a 52-week low of $15.83 and a 52-week high of $28.48. The stock has a market cap of $234.90, a PE ratio of 21.25, a PEG ratio of 2.27 and a beta of 1.78.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.15 by $0.05. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The business had revenue of $331.44 million for the quarter, compared to analysts’ expectations of $323.05 million. During the same quarter last year, the company earned ($0.16) EPS. The company’s revenue for the quarter was up 23.5% compared to the same quarter last year. research analysts anticipate that Olympic Steel, Inc. will post 1.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Friday, December 1st will be issued a $0.02 dividend. The ex-dividend date is Thursday, November 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.37%. Olympic Steel’s dividend payout ratio (DPR) is presently 7.21%.
A number of research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Olympic Steel from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 19th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th.
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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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