SG Americas Securities LLC Invests $245,000 in Olympic Steel, Inc. (NASDAQ:ZEUS)

SG Americas Securities LLC purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 6,283 shares of the basic materials company’s stock, valued at approximately $245,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. EntryPoint Capital LLC acquired a new position in shares of Olympic Steel during the first quarter valued at $61,000. Innealta Capital LLC acquired a new stake in Olympic Steel in the second quarter worth about $58,000. XTX Topco Ltd acquired a new stake in Olympic Steel in the second quarter worth about $201,000. Illinois Municipal Retirement Fund lifted its holdings in Olympic Steel by 3.3% in the first quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 197 shares during the period. Finally, Comerica Bank lifted its holdings in Olympic Steel by 53.7% in the first quarter. Comerica Bank now owns 7,085 shares of the basic materials company’s stock worth $502,000 after purchasing an additional 2,474 shares during the period. Institutional investors own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Olympic Steel Price Performance

Shares of ZEUS opened at $39.37 on Tuesday. The business’s 50-day moving average is $39.03 and its 200-day moving average is $47.73. Olympic Steel, Inc. has a fifty-two week low of $34.81 and a fifty-two week high of $73.49. The company has a market capitalization of $438.19 million, a price-to-earnings ratio of 12.66 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a return on equity of 4.98% and a net margin of 1.74%. The firm had revenue of $526.25 million during the quarter. During the same period in the previous year, the company earned $1.24 EPS.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a $0.15 dividend. 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 19.29%.

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.