Charles Schwab Investment Management Inc. Sells 32,853 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Charles Schwab Investment Management Inc. lessened its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 34.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 62,681 shares of the basic materials company’s stock after selling 32,853 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Olympic Steel were worth $2,057,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Victory Capital Management Inc. increased its stake in shares of Olympic Steel by 127.0% in the third quarter. Victory Capital Management Inc. now owns 12,989 shares of the basic materials company’s stock worth $507,000 after purchasing an additional 7,266 shares during the period. FMR LLC increased its position in Olympic Steel by 423.4% in the 3rd quarter. FMR LLC now owns 44,496 shares of the basic materials company’s stock worth $1,735,000 after buying an additional 35,995 shares during the period. Quantbot Technologies LP lifted its holdings in shares of Olympic Steel by 68.3% during the third quarter. Quantbot Technologies LP now owns 8,594 shares of the basic materials company’s stock worth $335,000 after buying an additional 3,489 shares during the last quarter. BNP Paribas Financial Markets boosted its position in shares of Olympic Steel by 103.4% in the third quarter. BNP Paribas Financial Markets now owns 22,081 shares of the basic materials company’s stock valued at $861,000 after acquiring an additional 11,224 shares during the period. Finally, Walleye Capital LLC acquired a new stake in shares of Olympic Steel in the third quarter worth $3,978,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $31.61 on Friday. The firm has a market capitalization of $352.01 million, a PE ratio of 16.05 and a beta of 1.48. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 1-year low of $30.29 and a 1-year high of $73.27. The business’s 50 day moving average is $33.94 and its 200-day moving average is $36.45.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The firm had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. Sell-side analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.16 dividend. The ex-dividend date was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. This is a boost from Olympic Steel’s previous quarterly dividend of $0.15. Olympic Steel’s payout ratio is presently 32.49%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ZEUS shares. KeyCorp upped their target price on shares of Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st.

About Olympic Steel

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.