American Century Companies Inc. Acquires 27,123 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

American Century Companies Inc. grew its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 10.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 279,940 shares of the basic materials company’s stock after buying an additional 27,123 shares during the quarter. American Century Companies Inc. owned approximately 2.52% of Olympic Steel worth $12,550,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of ZEUS. ClariVest Asset Management LLC increased its holdings in shares of Olympic Steel by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock worth $624,000 after acquiring an additional 390 shares during the last quarter. Texas Permanent School Fund Corp increased its holdings in shares of Olympic Steel by 9.5% in the second quarter. Texas Permanent School Fund Corp now owns 9,387 shares of the basic materials company’s stock valued at $421,000 after purchasing an additional 813 shares during the last quarter. Rhumbline Advisers raised its position in shares of Olympic Steel by 4.7% in the second 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 period. Versor Investments LP bought a new position in shares of Olympic Steel in the second quarter valued at about $318,000. Finally, Innealta Capital LLC acquired a new stake in shares of Olympic Steel during the 2nd quarter worth about $58,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Price Performance

Shares of NASDAQ ZEUS opened at $37.84 on Friday. The business’s 50 day moving average is $42.25 and its 200-day moving average is $52.10. The firm has a market cap of $421.27 million, a P/E ratio of 10.09 and a beta of 1.48. Olympic Steel, Inc. has a 1-year low of $34.81 and a 1-year high of $73.49. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37.

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

Olympic Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. Olympic Steel’s payout ratio is presently 16.00%.

Analysts Set New Price Targets

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

Olympic Steel 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.