Capstone Asset Management Co. lowered its position in Olympic Steel Inc. (NASDAQ:ZEUS) by 12.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,066 shares of the company’s stock after selling 1,370 shares during the period. Capstone Asset Management Co.’s holdings in Olympic Steel were worth $275,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of Olympic Steel by 51.8% in the first quarter. Acadian Asset Management LLC now owns 143,237 shares of the company’s stock worth $2,479,000 after buying an additional 48,887 shares in the last quarter. Royce & Associates LP boosted its position in shares of Olympic Steel by 19.1% in the first quarter. Royce & Associates LP now owns 294,180 shares of the company’s stock worth $5,092,000 after buying an additional 47,100 shares in the last quarter. State Street Corp boosted its position in shares of Olympic Steel by 6.6% in the first quarter. State Street Corp now owns 192,263 shares of the company’s stock worth $3,328,000 after buying an additional 11,846 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Olympic Steel by 4.3% in the first quarter. Geode Capital Management LLC now owns 65,338 shares of the company’s stock worth $1,130,000 after buying an additional 2,680 shares in the last quarter. Finally, Springbok Capital Management LLC boosted its position in shares of Olympic Steel by 9.5% in the first quarter. Springbok Capital Management LLC now owns 16,100 shares of the company’s stock worth $279,000 after buying an additional 1,400 shares in the last quarter. 73.08% of the stock is currently owned by institutional investors.
Olympic Steel Inc. (NASDAQ:ZEUS) traded down 2.45% during midday trading on Friday, reaching $21.11. 122,060 shares of the company traded hands. Olympic Steel Inc. has a 12-month low of $7.98 and a 12-month high of $31.19. The stock’s market capitalization is $231.34 million. The company has a 50 day moving average of $21.43 and a 200-day moving average of $22.30.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.07. Olympic Steel had a negative net margin of 0.27% and a negative return on equity of 0.82%. The business earned $273.60 million during the quarter, compared to analyst estimates of $305.66 million. During the same quarter last year, the company posted ($0.08) earnings per share. The company’s revenue was down 13.2% compared to the same quarter last year. Equities analysts anticipate that Olympic Steel Inc. will post $0.74 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend was Tuesday, August 30th. Olympic Steel’s dividend payout ratio (DPR) is currently -32.00%.
A number of equities analysts have recently weighed in on ZEUS shares. Jefferies Group reissued a “hold” rating and set a $25.00 price target (up from $20.00) on shares of Olympic Steel in a research report on Friday, June 10th. TheStreet raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. KeyCorp cut shares of Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price objective on the stock. in a research report on Friday, August 19th. Finally, Zacks Investment Research cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, August 24th.
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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