Separately, Zacks Investment Research cut shares of Olympic Steel from a hold rating to a sell rating in a research note on Sunday, September 8th.
Shares of ZEUS stock opened at $15.96 on Thursday. The stock has a market capitalization of $168.94 million, a P/E ratio of 4.55 and a beta of 2.15. The company has a current ratio of 4.75, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The firm’s 50 day moving average is $11.47 and its 200 day moving average is $14.15. Olympic Steel has a 12 month low of $9.99 and a 12 month high of $21.94.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date of this dividend is Friday, August 30th. Olympic Steel’s payout ratio is currently 2.28%.
Hedge funds have recently made changes to their positions in the stock. United Services Automobile Association lifted its stake in Olympic Steel by 4.5% in the 2nd quarter. United Services Automobile Association now owns 66,997 shares of the basic materials company’s stock worth $915,000 after purchasing an additional 2,900 shares in the last quarter. D. E. Shaw & Co. Inc. lifted its stake in Olympic Steel by 29.2% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 63,708 shares of the basic materials company’s stock worth $870,000 after purchasing an additional 14,394 shares in the last quarter. Zebra Capital Management LLC purchased a new stake in Olympic Steel in the 2nd quarter worth approximately $228,000. Invesco Ltd. lifted its stake in Olympic Steel by 27.0% in the 2nd quarter. Invesco Ltd. now owns 242,498 shares of the basic materials company’s stock worth $3,310,000 after purchasing an additional 51,541 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Olympic Steel by 21.7% in the 2nd quarter. Vanguard Group Inc. now owns 804,006 shares of the basic materials company’s stock worth $10,975,000 after purchasing an additional 143,100 shares in the last quarter. Institutional investors own 67.57% of the company’s stock.
About Olympic Steel
Olympic Steel, Inc processes and distributes 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 Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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