Arrowstreet Capital Limited Partnership Has $1.83 Million Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Arrowstreet Capital Limited Partnership lowered its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 2.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 55,901 shares of the basic materials company’s stock after selling 1,412 shares during the period. Arrowstreet Capital Limited Partnership owned 0.50% of Olympic Steel worth $1,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ZEUS. FMR LLC lifted its position in Olympic Steel by 423.4% during the third quarter. FMR LLC now owns 44,496 shares of the basic materials company’s stock worth $1,735,000 after acquiring an additional 35,995 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Olympic Steel by 103.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 22,081 shares of the basic materials company’s stock worth $861,000 after acquiring an additional 11,224 shares during the period. HighTower Advisors LLC bought a new stake in Olympic Steel during the third quarter worth $202,000. Jane Street Group LLC boosted its stake in Olympic Steel by 1,165.8% in the third quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock valued at $7,884,000 after buying an additional 186,192 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Olympic Steel by 275.2% in the 3rd quarter. Barclays PLC now owns 15,532 shares of the basic materials company’s stock valued at $606,000 after purchasing an additional 11,392 shares in the last quarter. 87.07% of the stock is owned by institutional investors.

Analyst Ratings Changes

ZEUS has been the topic of a number of recent research reports. KeyCorp lifted their price target on 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 cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st.

Olympic Steel Trading Down 3.3 %

NASDAQ ZEUS opened at $29.64 on Friday. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The business has a fifty day simple moving average of $32.85 and a 200 day simple moving average of $35.82. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $70.51. The firm has a market capitalization of $330.87 million, a P/E ratio of 15.05 and a beta of 1.50.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating 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 analysts’ expectations of $441.60 million. On average, analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a $0.16 dividend. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.16%. The ex-dividend date of this dividend was Monday, March 3rd. Olympic Steel’s dividend payout ratio (DPR) is 32.49%.

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.