Russell Investments Group Ltd. purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) during the fourth quarter, Holdings Channel reports. The firm purchased 76,418 shares of the company’s stock, valued at approximately $1,924,000.
Other hedge funds also recently modified their holdings of the company. Acadian Asset Management LLC raised its stake in shares of Olympic Steel by 0.6% in the third quarter. Acadian Asset Management LLC now owns 434,338 shares of the company’s stock worth $9,599,000 after buying an additional 2,618 shares in the last quarter. Nationwide Fund Advisors raised its stake in shares of Olympic Steel by 27.7% in the third quarter. Nationwide Fund Advisors now owns 49,360 shares of the company’s stock worth $1,091,000 after buying an additional 10,700 shares in the last quarter. Great West Life Assurance Co. Can raised its stake in shares of Olympic Steel by 13.3% in the third quarter. Great West Life Assurance Co. Can now owns 11,248 shares of the company’s stock worth $248,000 after buying an additional 1,317 shares in the last quarter. Chicago Equity Partners LLC raised its stake in shares of Olympic Steel by 2.3% in the third quarter. Chicago Equity Partners LLC now owns 68,580 shares of the company’s stock worth $1,516,000 after buying an additional 1,520 shares in the last quarter. Finally, Alambic Investment Management L.P. bought a new stake in shares of Olympic Steel during the third quarter worth $367,000. 75.29% of the stock is owned by institutional investors.
Shares of Olympic Steel, Inc. (NASDAQ:ZEUS) opened at 18.715 on Friday. The firm’s market capitalization is $205.17 million. The stock has a 50 day moving average of $22.46 and a 200-day moving average of $22.92. Olympic Steel, Inc. has a 52 week low of $15.41 and a 52 week high of $31.19.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, March 2nd. The company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.02. Olympic Steel had a negative net margin of 0.38% and a negative return on equity of 1.28%. The company earned $257.60 million during the quarter, compared to analysts’ expectations of $248.59 million. During the same quarter in the prior year, the company posted ($0.45) EPS. The business’s revenue was up 5.3% on a year-over-year basis. Analysts expect that Olympic Steel, Inc. will post $1.27 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Wednesday, March 1st were paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.43%. The ex-dividend date of this dividend was Monday, February 27th. Olympic Steel’s dividend payout ratio is -22.22%.
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A number of analysts have recently weighed in on ZEUS shares. TheStreet raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a research note on Monday, December 5th. Zacks Investment Research raised shares of Olympic Steel from a “strong sell” rating to a “hold” rating in a research note on Thursday, December 15th. KeyCorp raised shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $28.00 price target for the company in a research note on Monday, January 9th. Finally, Macquarie raised shares of Olympic Steel from a “neutral” rating to an “outperform” rating in a research note on Tuesday, March 14th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $22.50.
Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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