Acadian Asset Management LLC Decreases Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Acadian Asset Management LLC trimmed its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 328,068 shares of the basic materials company’s stock after selling 23,171 shares during the period. Acadian Asset Management LLC owned 2.95% of Olympic Steel worth $14,702,000 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 the company. Vanguard Group Inc. lifted its stake in shares of Olympic Steel by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock valued at $48,306,000 after buying an additional 12,242 shares in the last quarter. Janney Montgomery Scott LLC boosted its holdings in shares of Olympic Steel by 6.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 28,529 shares of the basic materials company’s stock worth $1,903,000 after acquiring an additional 1,628 shares during the period. Harvest Investment Services LLC purchased a new position in shares of Olympic Steel in the fourth quarter valued at $395,000. Teacher Retirement System of Texas purchased a new position in shares of Olympic Steel in the fourth quarter valued at $468,000. Finally, Sei Investments Co. raised its stake in shares of Olympic Steel by 5.2% during the 1st quarter. Sei Investments Co. now owns 76,498 shares of the basic materials company’s stock valued at $5,422,000 after purchasing an additional 3,756 shares during the period. 87.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $35.79 on Tuesday. The company has a 50 day moving average of $43.12 and a 200 day moving average of $53.84. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The stock has a market cap of $398.34 million, a P/E ratio of 9.54 and a beta of 1.48. Olympic Steel, Inc. has a 12 month low of $35.77 and a 12 month high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.55 by $0.05. The firm had revenue of $526.25 million during the quarter. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. During the same period in the previous year, the business earned $1.24 earnings per share.

Olympic Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a yield of 1.68%. Olympic Steel’s dividend payout ratio is currently 16.00%.

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.