Dark Forest Capital Management LP purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS – Free Report) during the first quarter, HoldingsChannel reports. The fund purchased 1,715 shares of the basic materials company’s stock, valued at approximately $90,000.
Other large investors also recently added to or reduced their stakes in the company. Dorsey Wright & Associates purchased a new position in Olympic Steel in the 1st quarter worth approximately $29,000. Quantbot Technologies LP lifted its holdings in Olympic Steel by 42.1% in the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 337 shares in the last quarter. UBS Group AG lifted its holdings in Olympic Steel by 52.4% in the 2nd quarter. UBS Group AG now owns 2,820 shares of the basic materials company’s stock worth $73,000 after purchasing an additional 970 shares in the last quarter. Victory Capital Management Inc. purchased a new position in Olympic Steel in the 4th quarter worth approximately $81,000. Finally, Teachers Retirement System of The State of Kentucky purchased a new position in Olympic Steel in the 3rd quarter worth approximately $95,000. 83.60% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com started coverage on Olympic Steel in a report on Thursday, August 17th. They issued a “buy” rating on the stock.
Olympic Steel Stock Down 2.0 %
Shares of ZEUS opened at $49.48 on Friday. The stock has a market capitalization of $550.71 million, a price-to-earnings ratio of 14.02 and a beta of 1.81. Olympic Steel, Inc. has a 1 year low of $22.62 and a 1 year high of $58.84. The business’s 50 day simple moving average is $51.62 and its 200-day simple moving average is $49.31. The company has a debt-to-equity ratio of 0.44, a current ratio of 3.69 and a quick ratio of 1.42.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last issued its quarterly earnings data on Thursday, August 3rd. The basic materials company reported $1.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.26 by ($0.02). The firm had revenue of $569.27 million for the quarter, compared to analysts’ expectations of $636.40 million. Olympic Steel had a return on equity of 8.40% and a net margin of 1.78%. As a group, equities analysts expect that Olympic Steel, Inc. will post 3.53 earnings per share for the current fiscal year.
Olympic Steel Dividend Announcement
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 issued a dividend of $0.125 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.50 annualized dividend and a yield of 1.01%. Olympic Steel’s payout ratio is presently 14.16%.
Olympic Steel Company Profile
Olympic Steel, Inc processes, distributes, and stores 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 company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.
Featured Stories
- Five stocks we like better than Olympic Steel
- Transportation Stocks Investing
- These 3 Wood Stocks are about to go on Discount
- How to Invest in EV Charging Stations
- Same Coin, Different Sides: 2 Observability Stocks Reverse Ways
- What is a Special Dividend?
- 3 Stocks Awaiting Winter Winds of Opportunity
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 – Free Report).
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.
