Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Acquired by AlphaQuest LLC

AlphaQuest LLC grew its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 63.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,174 shares of the basic materials company’s stock after purchasing an additional 9,763 shares during the quarter. AlphaQuest LLC’s holdings in Olympic Steel were worth $826,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ZEUS. Point72 DIFC Ltd acquired a new stake in shares of Olympic Steel in the third quarter valued at approximately $184,000. HighTower Advisors LLC acquired a new stake in shares of Olympic Steel in the third quarter valued at approximately $202,000. Los Angeles Capital Management LLC grew its position in shares of Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 770 shares during the last quarter. SG Americas Securities LLC boosted its position in Olympic Steel by 29.0% during the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 1,820 shares during the last quarter. Finally, DRW Securities LLC acquired a new stake in Olympic Steel during the third quarter worth approximately $302,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on ZEUS shares. KeyCorp raised their target price on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report 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.

Olympic Steel Stock Down 4.2 %

Shares of ZEUS opened at $30.93 on Tuesday. The firm has a market cap of $344.44 million, a PE ratio of 15.70 and a beta of 1.48. The company’s fifty day moving average is $33.99 and its two-hundred day moving average is $37.14. Olympic Steel, Inc. has a fifty-two week low of $30.29 and a fifty-two week high of $73.27. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly 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. The company had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. Analysts forecast that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Shareholders of record on Monday, March 3rd will be issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Monday, March 3rd. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. Olympic Steel’s dividend payout ratio (DPR) is 32.49%.

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.