Y Intercept Hong Kong Ltd Grows Stake in Olympic Steel, Inc. $ZEUS

Y Intercept Hong Kong Ltd raised its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 271.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 53,480 shares of the basic materials company’s stock after buying an additional 39,083 shares during the quarter. Y Intercept Hong Kong Ltd owned about 0.48% of Olympic Steel worth $1,743,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ZEUS. Federated Hermes Inc. boosted its holdings in Olympic Steel by 18,931.2% in the first quarter. Federated Hermes Inc. now owns 17,699 shares of the basic materials company’s stock valued at $558,000 after acquiring an additional 17,606 shares in the last quarter. American Century Companies Inc. raised its holdings in Olympic Steel by 5.8% in the 1st quarter. American Century Companies Inc. now owns 349,157 shares of the basic materials company’s stock worth $11,005,000 after purchasing an additional 19,044 shares in the last quarter. Russell Investments Group Ltd. lifted its position in shares of Olympic Steel by 32.0% in the 1st quarter. Russell Investments Group Ltd. now owns 78,577 shares of the basic materials company’s stock worth $2,477,000 after purchasing an additional 19,039 shares during the period. New Age Alpha Advisors LLC lifted its position in shares of Olympic Steel by 33.6% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 605 shares during the period. Finally, CWM LLC boosted its stake in shares of 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 purchasing an additional 1,552 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of ZEUS opened at $37.00 on Friday. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $43.60. The firm’s 50-day simple moving average is $31.44 and its two-hundred day simple moving average is $31.84. The stock has a market cap of $414.40 million, a PE ratio of 31.62 and a beta of 1.77. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.18 and a current ratio of 3.07.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Olympic Steel had a return on equity of 2.12% and a net margin of 0.73%.The company had revenue of $490.66 million during the quarter, compared to the consensus estimate of $476.20 million. Analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, December 1st. Olympic Steel’s dividend payout ratio is currently 54.70%.

Analyst Ratings Changes

A number of research firms recently issued reports on ZEUS. Wall Street Zen downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. KeyCorp reduced their target price on Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. Finally, Weiss Ratings cut Olympic Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $38.00.

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.