Commonwealth Equity Services LLC Has $2.92 Million Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Commonwealth Equity Services LLC decreased its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 14.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 41,221 shares of the basic materials company’s stock after selling 7,045 shares during the period. Commonwealth Equity Services LLC owned approximately 0.37% of Olympic Steel worth $2,922,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AJOVista LLC bought a new stake in shares of Olympic Steel during the 4th quarter valued at $75,000. Cornerstone Investment Partners LLC bought a new stake in shares of Olympic Steel during the 1st quarter valued at $207,000. Diversified Trust Co bought a new stake in shares of Olympic Steel during the 4th quarter valued at $230,000. Louisiana State Employees Retirement System bought a new stake in shares of Olympic Steel during the 4th quarter valued at $327,000. Finally, Harvest Investment Services LLC bought a new stake in shares of Olympic Steel during the 4th quarter valued at $395,000. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Trading Down 3.7 %

Shares of ZEUS traded down $1.64 during trading hours on Friday, reaching $42.18. The stock had a trading volume of 20,156 shares, compared to its average volume of 86,600. The company has a quick ratio of 1.21, a current ratio of 3.28 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 52 week low of $42.18 and a 52 week high of $73.49. The firm has a 50-day moving average of $51.20 and a 200 day moving average of $61.69. The company has a market cap of $469.46 million, a P/E ratio of 11.69 and a beta of 1.52.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.77 EPS for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Olympic Steel had a net margin of 2.05% and a return on equity of 6.39%. The business had revenue of $526.64 million during the quarter, compared to analysts’ expectations of $550.80 million.

Olympic Steel Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, June 17th. Investors of record on Monday, June 3rd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Monday, June 3rd. Olympic Steel’s payout ratio is presently 16.00%.

Olympic Steel 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.