Victory Capital Management Inc. Trims Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Victory Capital Management Inc. trimmed its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 36.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,723 shares of the basic materials company’s stock after selling 3,219 shares during the period. Victory Capital Management Inc. owned about 0.05% of Olympic Steel worth $257,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC raised its holdings in shares of Olympic Steel by 0.6% in the first quarter. Janney Montgomery Scott LLC now owns 28,710 shares of the basic materials company’s stock worth $2,035,000 after acquiring an additional 181 shares during the last quarter. Illinois Municipal Retirement Fund raised its stake in Olympic Steel by 3.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 197 shares during the last quarter. SummerHaven Investment Management LLC lifted 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 valued at $649,000 after purchasing an additional 292 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Olympic Steel by 5.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock worth $702,000 after purchasing an additional 471 shares during the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of Olympic Steel in the first quarter valued at approximately $61,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $37.87 on Tuesday. The company has a market capitalization of $421.61 million, a PE ratio of 10.10 and a beta of 1.48. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month 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. The business’s 50-day moving average price is $42.09 and its 200 day moving average price is $51.82.

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

Olympic Steel Dividend Announcement

The company also recently declared 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date was Friday, August 30th. 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.