13,452 Shares in Olympic Steel, Inc. (NASDAQ:ZEUS) Bought by Readystate Asset Management LP

Readystate Asset Management LP acquired a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 13,452 shares of the basic materials company’s stock, valued at approximately $424,000. Readystate Asset Management LP owned about 0.12% of Olympic Steel at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Versant Capital Management Inc lifted its stake in Olympic Steel by 178.7% during the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 586 shares in the last quarter. New Age Alpha Advisors LLC bought a new position in Olympic Steel during the 4th quarter valued at $59,000. CWM LLC lifted its stake in Olympic Steel by 170.5% during the 1st quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 1,552 shares in the last quarter. State of Wyoming lifted its stake in Olympic Steel by 17.6% during the 4th quarter. State of Wyoming now owns 8,236 shares of the basic materials company’s stock valued at $270,000 after acquiring an additional 1,233 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Olympic Steel by 16.0% during the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company’s stock valued at $298,000 after acquiring an additional 1,257 shares in the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, KeyCorp lowered their target price on Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th.

Olympic Steel Price Performance

ZEUS opened at $35.46 on Thursday. The firm has a market cap of $395.73 million, a P/E ratio of 24.80 and a beta of 1.66. The firm has a 50-day moving average of $32.23 and a 200 day moving average of $32.54. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.25 and a current ratio of 3.16. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $51.66.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a net margin of 0.88% and a return on equity of 2.16%. The company had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. On average, research analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.80%. The ex-dividend date was Monday, June 2nd. Olympic Steel’s payout ratio is 44.76%.

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.