Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 10.5% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 754,119 shares of the basic materials company’s stock after selling 88,059 shares during the period. Pacer Advisors Inc. owned approximately 0.07% of Olympic Steel worth $33,807,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ZEUS. Innealta Capital LLC acquired a new stake in Olympic Steel in the second quarter valued at about $58,000. EntryPoint Capital LLC purchased a new position in shares of Olympic Steel during the 1st quarter worth approximately $61,000. XTX Topco Ltd acquired a new stake in shares of Olympic Steel in the 2nd quarter valued at approximately $201,000. Cornerstone Investment Partners LLC purchased a new stake in shares of Olympic Steel in the first quarter valued at approximately $207,000. Finally, Versor Investments LP purchased a new position in Olympic Steel in the second quarter worth $318,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.

Olympic Steel Trading Down 4.3 %

Shares of ZEUS opened at $37.84 on Friday. The firm’s 50-day moving average is $42.25 and its two-hundred day moving average is $52.10. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month high of $73.49. 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 firm has a market capitalization of $421.27 million, a P/E ratio of 10.09 and a beta of 1.48.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.60 earnings per share 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 return on equity of 4.98% and a net margin of 1.74%. During the same period in the previous year, the business earned $1.24 earnings per share.

Olympic Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, August 30th. Olympic Steel’s dividend payout ratio (DPR) 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.