AJOVista LLC Purchases Shares of 1,121 Olympic Steel, Inc. (NASDAQ:ZEUS)

AJOVista LLC purchased a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,121 shares of the basic materials company’s stock, valued at approximately $75,000.

A number of other hedge funds also recently bought and sold shares of the stock. Van ECK Associates Corp raised its position in Olympic Steel by 35.4% in the 4th quarter. Van ECK Associates Corp now owns 13,294 shares of the basic materials company’s stock valued at $887,000 after purchasing an additional 3,476 shares in the last quarter. SummerHaven Investment Management LLC raised its position in Olympic Steel by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 14,036 shares of the basic materials company’s stock valued at $936,000 after purchasing an additional 184 shares in the last quarter. Russell Investments Group Ltd. raised its position in shares of Olympic Steel by 17.7% during the 4th quarter. Russell Investments Group Ltd. now owns 64,219 shares of the basic materials company’s stock worth $4,283,000 after acquiring an additional 9,664 shares in the last quarter. New York State Common Retirement Fund raised its position in shares of Olympic Steel by 32.1% during the 4th quarter. New York State Common Retirement Fund now owns 6,680 shares of the basic materials company’s stock worth $446,000 after acquiring an additional 1,625 shares in the last quarter. Finally, Wedge Capital Management L L P NC raised its position in shares of Olympic Steel by 13.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 8,321 shares of the basic materials company’s stock worth $555,000 after acquiring an additional 1,018 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Olympic Steel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd.

Olympic Steel Stock Performance

ZEUS traded down $6.13 during trading on Friday, hitting $57.55. 146,077 shares of the stock were exchanged, compared to its average volume of 53,420. The firm has a market capitalization 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 fifty day moving average price of $67.44 and a two-hundred day moving average price of $62.93. The company has a quick ratio of 1.20, a current ratio of 3.35 and a debt-to-equity ratio of 0.34.

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

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, June 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.04%. Olympic Steel’s dividend payout ratio (DPR) is currently 16.00%.

Olympic Steel Company 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.