Russell Investments Group Ltd. lessened its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 25.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 29,657 shares of the basic materials company’s stock after selling 10,075 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.27% of Olympic Steel worth $868,000 as of its most recent filing with the SEC.
Several other institutional investors also recently modified their holdings of the company. BlackRock Inc. raised its stake in shares of Olympic Steel by 4.9% in the 1st quarter. BlackRock Inc. now owns 1,659,376 shares of the basic materials company’s stock valued at $48,869,000 after purchasing an additional 77,108 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Olympic Steel by 0.3% during the first quarter. Dimensional Fund Advisors LP now owns 914,898 shares of the basic materials company’s stock worth $26,945,000 after acquiring an additional 2,826 shares during the period. Acadian Asset Management LLC raised its stake in Olympic Steel by 8.1% during the first quarter. Acadian Asset Management LLC now owns 410,978 shares of the basic materials company’s stock worth $12,104,000 after acquiring an additional 30,631 shares during the period. Royce & Associates LP raised its stake in Olympic Steel by 731.7% during the first quarter. Royce & Associates LP now owns 291,103 shares of the basic materials company’s stock worth $8,573,000 after acquiring an additional 256,103 shares during the period. Finally, Foundry Partners LLC raised its stake in Olympic Steel by 17.3% during the first quarter. Foundry Partners LLC now owns 171,814 shares of the basic materials company’s stock worth $5,060,000 after acquiring an additional 25,369 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.
In other news, insider David A. Wolfort sold 13,225 shares of Olympic Steel stock in a transaction that occurred on Wednesday, August 11th. The stock was sold at an average price of $31.12, for a total transaction of $411,562.00. Following the sale, the insider now owns 391,045 shares of the company’s stock, valued at $12,169,320.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 17.40% of the company’s stock.
ZEUS opened at $22.64 on Tuesday. The business’s 50 day moving average is $27.95 and its 200-day moving average is $29.49. The stock has a market cap of $250.78 million, a PE ratio of 5.01 and a beta of 1.57. The company has a current ratio of 3.05, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. Olympic Steel, Inc. has a twelve month low of $10.84 and a twelve month high of $40.00.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, August 5th. The basic materials company reported $2.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.01 by $0.83. The company had revenue of $556.08 million for the quarter, compared to analysts’ expectations of $516.40 million. Olympic Steel had a return on equity of 17.31% and a net margin of 3.15%. As a group, analysts forecast that Olympic Steel, Inc. will post 8.69 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 15th. Stockholders of record on Wednesday, September 1st were issued a dividend of $0.02 per share. The ex-dividend date was Tuesday, August 31st. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.35%. Olympic Steel’s dividend payout ratio (DPR) is presently -21.62%.
Olympic Steel Company Profile
Olympic Steel, Inc engages in the processing, sale, and distribution of metal products. It operates through the following segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. The Carbon Flat Products includes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts.
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