Los Angeles Capital Management LLC Sells 5,020 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Los Angeles Capital Management LLC cut its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 48.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,247 shares of the basic materials company’s stock after selling 5,020 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Olympic Steel were worth $235,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. Rhumbline Advisers increased its position in shares of Olympic Steel by 4.7% during the 2nd quarter. Rhumbline Advisers now owns 32,436 shares of the basic materials company’s stock valued at $1,454,000 after purchasing an additional 1,469 shares during the last quarter. Versor Investments LP purchased a new stake in Olympic Steel in the 2nd quarter worth about $318,000. Innealta Capital LLC purchased a new stake in Olympic Steel in the 2nd quarter worth about $58,000. Bank of New York Mellon Corp increased its holdings in Olympic Steel by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after acquiring an additional 25,201 shares during the last quarter. Finally, SummerHaven Investment Management LLC increased its holdings in Olympic Steel by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 292 shares during the last quarter. 87.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Wednesday, September 4th.

Olympic Steel Stock Up 2.6 %

ZEUS stock opened at $38.60 on Monday. The firm has a market capitalization of $429.73 million, a PE ratio of 10.29 and a beta of 1.48. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. The stock has a 50-day simple moving average of $42.66 and a two-hundred day simple moving average of $53.06. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month high of $73.49.

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

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Monday, September 2nd will be given a dividend of $0.15 per share. The ex-dividend date is Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.55%. Olympic Steel’s dividend payout ratio (DPR) is presently 16.00%.

Olympic Steel Company 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.