Rhumbline Advisers Has $1.45 Million Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Rhumbline Advisers raised its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 4.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 32,436 shares of the basic materials company’s stock after purchasing an additional 1,469 shares during the period. Rhumbline Advisers’ holdings in Olympic Steel were worth $1,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Janney Montgomery Scott LLC increased its stake in shares of Olympic Steel by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 28,710 shares of the basic materials company’s stock valued at $2,035,000 after buying an additional 181 shares during the period. Illinois Municipal Retirement Fund increased its position in Olympic Steel by 3.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 197 shares during the period. SummerHaven Investment Management LLC increased its position in Olympic Steel by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock valued at $649,000 after purchasing an additional 292 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Olympic Steel by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock worth $702,000 after purchasing an additional 471 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Olympic Steel in the 1st quarter worth approximately $61,000. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

ZEUS stock opened at $37.84 on Friday. Olympic Steel, Inc. has a 1-year low of $34.81 and a 1-year 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 stock has a 50-day moving average price of $42.25 and a 200-day moving average price of $52.10. The firm has a market cap of $421.27 million, a PE ratio of 10.09 and a beta of 1.48.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The business 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 quarter in the previous year, the firm posted $1.24 earnings per share.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Monday, September 2nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. Olympic Steel’s payout ratio is presently 16.00%.

Analyst Ratings Changes

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

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.