Renaissance Technologies LLC Boosts Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Renaissance Technologies LLC lifted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 62.0% in the second quarter, HoldingsChannel reports. The firm owned 98,798 shares of the basic materials company’s stock after buying an additional 37,798 shares during the period. Renaissance Technologies LLC’s holdings in Olympic Steel were worth $4,429,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Janney Montgomery Scott LLC lifted its position in shares of Olympic Steel by 0.6% during the first quarter. Janney Montgomery Scott LLC now owns 28,710 shares of the basic materials company’s stock worth $2,035,000 after purchasing an additional 181 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake 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 worth $435,000 after buying an additional 197 shares during the period. SummerHaven Investment Management LLC lifted its holdings 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 worth $649,000 after buying an additional 292 shares in the last quarter. ClariVest Asset Management LLC boosted its position in Olympic Steel by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock valued at $624,000 after buying an additional 390 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its position in Olympic Steel by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock valued at $702,000 after buying an additional 471 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Up 1.3 %

Shares of NASDAQ ZEUS opened at $39.36 on Friday. The business has a 50-day moving average price of $41.32 and a 200 day moving average price of $51.28. The stock has a market cap of $438.08 million, a PE ratio of 10.50 and a beta of 1.48. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. Olympic Steel, Inc. has a 52-week low of $34.81 and a 52-week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results 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. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The business had revenue of $526.25 million during the quarter. During the same quarter last year, the company posted $1.24 EPS.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a dividend of $0.15 per share. The ex-dividend date was Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.52%. Olympic Steel’s payout ratio is currently 16.00%.

Analyst Upgrades and Downgrades

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

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.