Walleye Capital LLC Buys New Holdings in Olympic Steel, Inc. $ZEUS

Walleye Capital LLC bought a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,915 shares of the basic materials company’s stock, valued at approximately $376,000.

A number of other large investors have also modified their holdings of ZEUS. Versant Capital Management Inc raised its stake in shares of Olympic Steel by 178.7% in the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 586 shares in the last quarter. New Age Alpha Advisors LLC raised its stake in shares of Olympic Steel by 33.6% in the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 605 shares in the last quarter. CWM LLC raised its stake in shares of Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 1,552 shares in the last quarter. Quantbot Technologies LP raised its stake in shares of Olympic Steel by 20.1% in the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock valued at $156,000 after purchasing an additional 830 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in shares of Olympic Steel in the first quarter valued at $179,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

Olympic Steel stock opened at $33.01 on Wednesday. The stock has a fifty day moving average price of $32.97 and a two-hundred day moving average price of $32.18. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.07 and a quick ratio of 1.18. The firm has a market capitalization of $369.71 million, a P/E ratio of 27.06 and a beta of 1.77. Olympic Steel, Inc. has a 52-week low of $26.32 and a 52-week high of $43.60.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). The business had revenue of $496.48 million for the quarter, compared to the consensus estimate of $506.60 million. Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%. As a group, analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be issued a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Tuesday, September 2nd. Olympic Steel’s dividend payout ratio is presently 52.46%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. KeyCorp dropped their price objective on Olympic Steel from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Wednesday, August 6th. Wall Street Zen lowered Olympic Steel from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average target price of $38.00.

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.