Schwab Charles Investment Management Inc. boosted its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 47.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 101,237 shares of the basic materials company’s stock after buying an additional 32,725 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.92% of Olympic Steel worth $2,176,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. The Manufacturers Life Insurance Company raised its holdings in Olympic Steel by 12.6% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after buying an additional 934 shares during the period. Algert Global LLC acquired a new position in shares of Olympic Steel during the third quarter worth about $261,000. Crossmark Global Holdings Inc. acquired a new position in shares of Olympic Steel during the third quarter worth about $264,000. Nationwide Fund Advisors grew its position in shares of Olympic Steel by 51.0% during the third quarter. Nationwide Fund Advisors now owns 63,456 shares of the basic materials company’s stock worth $1,396,000 after buying an additional 21,442 shares in the last quarter. Finally, California Public Employees Retirement System grew its position in shares of Olympic Steel by 24.1% during the third quarter. California Public Employees Retirement System now owns 68,900 shares of the basic materials company’s stock worth $1,516,000 after buying an additional 13,400 shares in the last quarter. Hedge funds and other institutional investors own 65.55% of the company’s stock.
ZEUS stock opened at $20.00 on Friday. Olympic Steel, Inc. has a 52-week low of $15.83 and a 52-week high of $25.84. The company has a market capitalization of $243.29, a PE ratio of 19.40, a PEG ratio of 1.49 and a beta of 1.86. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.30 and a current ratio of 3.78.
The firm also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, March 1st were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.40%. The ex-dividend date was Wednesday, February 28th. Olympic Steel’s dividend payout ratio (DPR) is 4.79%.
ZEUS has been the subject of a number of analyst reports. BidaskClub raised Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, January 16th. Zacks Investment Research downgraded Olympic Steel from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 13th. Finally, KeyCorp reissued a “hold” rating on shares of Olympic Steel in a research report on Friday, November 24th.
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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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