State Street Corp boosted its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 5.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 234,772 shares of the basic materials company’s stock after acquiring an additional 12,824 shares during the quarter. State Street Corp owned 2.14% of Olympic Steel worth $4,574,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP raised its position in Olympic Steel by 0.4% during the first quarter. Dimensional Fund Advisors LP now owns 926,074 shares of the basic materials company’s stock valued at $17,188,000 after acquiring an additional 3,394 shares in the last quarter. Vanguard Group Inc. raised its position in Olympic Steel by 7.4% during the first quarter. Vanguard Group Inc. now owns 487,212 shares of the basic materials company’s stock valued at $9,042,000 after acquiring an additional 33,491 shares in the last quarter. Ameriprise Financial Inc. raised its position in Olympic Steel by 46.3% during the second quarter. Ameriprise Financial Inc. now owns 203,761 shares of the basic materials company’s stock valued at $3,969,000 after acquiring an additional 64,491 shares in the last quarter. Prudential Financial Inc. increased its position in shares of Olympic Steel by 206.5% in the second quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock valued at $1,946,000 after buying an additional 67,281 shares in the last quarter. Finally, ClariVest Asset Management LLC increased its position in shares of Olympic Steel by 17.4% in the second quarter. ClariVest Asset Management LLC now owns 163,900 shares of the basic materials company’s stock valued at $3,192,000 after buying an additional 24,251 shares in the last quarter. Institutional investors own 68.01% of the company’s stock.
Shares of Olympic Steel, Inc. (NASDAQ ZEUS) opened at $20.18 on Thursday. The company has a market capitalization of $225.46, a P/E ratio of 20.76, a PEG ratio of 2.22 and a beta of 1.79. Olympic Steel, Inc. has a 12-month low of $15.83 and a 12-month high of $28.48. The company has a debt-to-equity ratio of 0.82, a current ratio of 4.23 and a quick ratio of 1.54.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Friday, December 1st will be paid a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.40%. The ex-dividend date is Thursday, November 30th. Olympic Steel’s dividend payout ratio is presently 7.21%.
A number of research firms have recently commented on ZEUS. Zacks Investment Research cut Olympic Steel from a “strong-buy” rating to a “hold” rating in a research report on Saturday, August 19th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a research report on Tuesday, September 19th.
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Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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