Exchange Traded Concepts LLC Raises Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Exchange Traded Concepts LLC lifted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 5.6% in the 4th quarter, Holdings Channel reports. The fund owned 27,214 shares of the basic materials company’s stock after acquiring an additional 1,432 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Olympic Steel were worth $893,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC purchased a new stake in Olympic Steel in the third quarter worth $27,000. Point72 DIFC Ltd purchased a new stake in shares of Olympic Steel in the 3rd quarter worth about $184,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel in the 3rd quarter worth about $202,000. SG Americas Securities LLC purchased a new position in Olympic Steel during the 3rd quarter valued at about $245,000. Finally, Los Angeles Capital Management LLC boosted its stake in Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ZEUS shares. KeyCorp raised shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 target price for the company in a research note on Wednesday, January 22nd. StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th.

Olympic Steel Stock Performance

Shares of Olympic Steel stock opened at $35.79 on Wednesday. Olympic Steel, Inc. has a 1 year low of $30.29 and a 1 year high of $73.49. The firm’s 50-day moving average is $36.60 and its 200 day moving average is $39.19. The stock has a market cap of $398.34 million, a price-to-earnings ratio of 15.70 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.11 earnings per share (EPS) for the quarter. The firm had revenue of $470.00 million for the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. Sell-side analysts anticipate that Olympic Steel, Inc. will post 1.55 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.68%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s payout ratio is currently 26.32%.

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.