Pacer Advisors Inc. Decreases Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Pacer Advisors Inc. cut its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 10.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 754,119 shares of the basic materials company’s stock after selling 88,059 shares during the period. Pacer Advisors Inc. owned 6.78% of Olympic Steel worth $33,807,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in Olympic Steel in the second quarter valued at $58,000. EntryPoint Capital LLC purchased a new position in shares of Olympic Steel in the 1st quarter valued at about $61,000. XTX Topco Ltd acquired a new stake in shares of Olympic Steel during the 2nd quarter worth about $201,000. Cornerstone Investment Partners LLC purchased a new stake in Olympic Steel during the first quarter worth approximately $207,000. Finally, Versor Investments LP acquired a new position in Olympic Steel in the second quarter valued at approximately $318,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Stock Down 4.3 %

Shares of NASDAQ ZEUS opened at $37.84 on Friday. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. Olympic Steel, Inc. has a 52-week low of $34.81 and a 52-week high of $73.49. The business has a 50-day moving average price of $42.25 and a 200 day moving average price of $52.10. The stock has a market cap of $421.27 million, a PE ratio of 10.09 and a beta of 1.48.

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

Olympic Steel Announces Dividend

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

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a report 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.