XTX Topco Ltd Purchases New Shares in Olympic Steel, Inc. (NASDAQ:ZEUS)

XTX Topco Ltd acquired a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 4,480 shares of the basic materials company’s stock, valued at approximately $201,000.

A number of other institutional investors have also recently bought and sold shares of ZEUS. Innealta Capital LLC bought a new position in shares of Olympic Steel during the second quarter worth approximately $58,000. EntryPoint Capital LLC acquired a new position in Olympic Steel in the 1st quarter valued at $61,000. Cornerstone Investment Partners LLC acquired a new position in Olympic Steel in the 1st quarter valued at $207,000. Versor Investments LP acquired a new stake in shares of Olympic Steel during the 2nd quarter worth $318,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Olympic Steel by 9.5% during the 2nd quarter. Texas Permanent School Fund Corp now owns 9,387 shares of the basic materials company’s stock worth $421,000 after purchasing an additional 813 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research report on Tuesday, September 24th.

Olympic Steel Stock Performance

Shares of NASDAQ:ZEUS opened at $39.36 on Monday. Olympic Steel, Inc. has a 1 year low of $34.81 and a 1 year high of $73.49. The stock has a market capitalization of $438.19 million, a price-to-earnings ratio of 10.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. The company’s 50 day simple moving average is $41.32 and its 200 day simple moving average is $51.08.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping the consensus estimate 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 prior year, the company earned $1.24 earnings per share.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were paid a $0.15 dividend. 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 1.52%. Olympic Steel’s 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.