Citigroup Inc. Reduces Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Citigroup Inc. trimmed its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 38.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,816 shares of the basic materials company’s stock after selling 3,054 shares during the period. Citigroup Inc.’s holdings in Olympic Steel were worth $271,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of ZEUS. BlackRock Inc. grew its stake in shares of Olympic Steel by 1.1% during the 3rd quarter. BlackRock Inc. now owns 2,125,957 shares of the basic materials company’s stock worth $48,492,000 after acquiring an additional 24,020 shares during the period. Invesco Ltd. lifted its holdings in Olympic Steel by 36.2% during the first quarter. Invesco Ltd. now owns 957,825 shares of the basic materials company’s stock valued at $36,838,000 after purchasing an additional 254,383 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Olympic Steel by 4.5% during the first quarter. Dimensional Fund Advisors LP now owns 941,367 shares of the basic materials company’s stock worth $49,148,000 after purchasing an additional 40,265 shares during the period. Vanguard Group Inc. increased its stake in shares of Olympic Steel by 1.3% in the first quarter. Vanguard Group Inc. now owns 655,712 shares of the basic materials company’s stock worth $25,218,000 after purchasing an additional 8,613 shares in the last quarter. Finally, State Street Corp raised its position in shares of Olympic Steel by 2.4% in the second quarter. State Street Corp now owns 648,945 shares of the basic materials company’s stock valued at $31,798,000 after purchasing an additional 15,080 shares during the period. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of NASDAQ ZEUS opened at $70.18 on Thursday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.20 and a current ratio of 3.35. Olympic Steel, Inc. has a fifty-two week low of $40.85 and a fifty-two week high of $73.49. The stock has a market cap of $781.10 million, a PE ratio of 18.23 and a beta of 1.64. The stock has a fifty day moving average of $67.30 and a 200-day moving average of $59.85.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. Olympic Steel had a return on equity of 7.30% and a net margin of 2.06%. The business had revenue of $489.41 million during the quarter, compared to analyst estimates of $490.10 million. Equities research analysts anticipate that Olympic Steel, Inc. will post 3.41 earnings per share for the current year.

Olympic Steel Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.15 per share. The ex-dividend date was Friday, March 1st. This represents a $0.60 annualized dividend and a yield of 0.85%. This is a boost from Olympic Steel’s previous quarterly dividend of $0.13. Olympic Steel’s payout ratio is currently 15.58%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of Olympic Steel from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 2nd.

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.