Olympic Steel, Inc. (NASDAQ:ZEUS) Stock Position Raised by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA boosted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 3.5% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,301 shares of the basic materials company’s stock after purchasing an additional 1,353 shares during the period. Massachusetts Financial Services Co. MA owned 0.36% of Olympic Steel worth $1,807,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the company. EntryPoint Capital LLC purchased a new position in shares of Olympic Steel during the first quarter valued at $61,000. Innealta Capital LLC acquired a new stake in Olympic Steel during the 2nd quarter worth about $58,000. Cornerstone Investment Partners LLC acquired a new position in shares of Olympic Steel in the 1st quarter valued at about $207,000. Harvest Investment Services LLC purchased a new stake in shares of Olympic Steel in the fourth quarter worth approximately $395,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Olympic Steel by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 197 shares during the period. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Stock Performance

Shares of NASDAQ ZEUS opened at $37.84 on Monday. Olympic Steel, Inc. has a one year low of $34.81 and a one year high of $73.49. The business’s 50-day moving average price is $42.25 and its two-hundred day moving average price is $52.02. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. The company has a market capitalization of $421.27 million, a P/E ratio of 10.09 and a beta of 1.48.

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

Olympic Steel Announces Dividend

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

Analyst Ratings Changes

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