SG Americas Securities LLC Buys New Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

SG Americas Securities LLC acquired a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 6,283 shares of the basic materials company’s stock, valued at approximately $245,000. SG Americas Securities LLC owned approximately 0.06% of Olympic Steel as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also modified their holdings of ZEUS. Allspring Global Investments Holdings LLC boosted its position in Olympic Steel by 231.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 7,142 shares of the basic materials company’s stock worth $506,000 after acquiring an additional 4,985 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in shares of Olympic Steel by 32.9% in the 1st quarter. BNP Paribas Financial Markets now owns 7,362 shares of the basic materials company’s stock worth $522,000 after acquiring an additional 1,822 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Olympic Steel by 0.6% in the 1st 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. Empowered Funds LLC lifted its holdings in shares of Olympic Steel by 8.2% in the 1st quarter. Empowered Funds LLC now owns 50,963 shares of the basic materials company’s stock worth $3,612,000 after acquiring an additional 3,850 shares during the last quarter. Finally, Illinois Municipal Retirement Fund lifted its holdings in shares of 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 worth $435,000 after acquiring an additional 197 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th.

Olympic Steel Trading Up 0.4 %

NASDAQ ZEUS opened at $39.37 on Tuesday. The company has a market capitalization of $438.19 million, a price-to-earnings ratio of 12.66 and a beta of 1.46. The firm’s fifty day moving average price is $39.03 and its 200 day moving average price is $47.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. Olympic Steel, Inc. has a 12 month low of $34.81 and a 12 month high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. The company 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 business posted $1.24 EPS.

Olympic Steel Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued 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 1.52%. Olympic Steel’s dividend payout ratio (DPR) is presently 19.29%.

About Olympic Steel

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.