AJOVista LLC Takes Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

AJOVista LLC bought a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,121 shares of the basic materials company’s stock, valued at approximately $75,000.

Other hedge funds also recently modified their holdings of the company. Maryland State Retirement & Pension System purchased a new stake in shares of Olympic Steel in the third quarter valued at $203,000. Corton Capital Inc. acquired a new position in shares of Olympic Steel in the third quarter worth $203,000. Diversified Trust Co acquired a new position in shares of Olympic Steel in the fourth quarter worth $230,000. Versor Investments LP acquired a new position in shares of Olympic Steel in the third quarter worth $247,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Olympic Steel by 92.8% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,112 shares of the basic materials company’s stock worth $287,000 after acquiring an additional 2,460 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Olympic Steel from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 2nd.

Olympic Steel Stock Down 9.6 %

Olympic Steel stock traded down $6.13 during mid-day trading on Friday, hitting $57.55. 146,077 shares of the company’s stock were exchanged, compared to its average volume of 53,420. The company has a current ratio of 3.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.34. The stock has a market cap of $640.53 million, a P/E ratio of 15.35 and a beta of 1.67. Olympic Steel, Inc. has a 1-year low of $40.85 and a 1-year high of $73.49. The stock has a 50 day moving average of $67.44 and a two-hundred day moving average of $62.93.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $489.41 million for the quarter, compared to the consensus estimate of $490.10 million. Olympic Steel had a return on equity of 6.43% and a net margin of 2.05%. As a group, analysts anticipate that Olympic Steel, Inc. will post 3.41 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 17th. Stockholders of record on Monday, June 3rd will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. The ex-dividend date is Monday, June 3rd. Olympic Steel’s dividend payout ratio is currently 16.00%.

Olympic Steel Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. 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.