Victory Capital Management Inc. Grows Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Victory Capital Management Inc. increased its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 127.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,989 shares of the basic materials company’s stock after acquiring an additional 7,266 shares during the period. Victory Capital Management Inc. owned approximately 0.12% of Olympic Steel worth $507,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC boosted its position in shares of Olympic Steel by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock valued at $649,000 after buying an additional 292 shares during the period. ClariVest Asset Management LLC raised its stake in shares of Olympic Steel by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock valued at $624,000 after acquiring an additional 390 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Olympic Steel by 5.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock valued at $702,000 after acquiring an additional 471 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Olympic Steel by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock valued at $1,175,000 after acquiring an additional 578 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Olympic Steel during the third quarter valued at approximately $27,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

Olympic Steel Stock Performance

Shares of NASDAQ:ZEUS opened at $42.28 on Friday. The company has a market capitalization of $470.58 million, a price-to-earnings ratio of 18.56 and a beta of 1.47. Olympic Steel, Inc. has a 52 week low of $32.23 and a 52 week high of $73.49. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $39.05 and a 200 day moving average of $43.02.

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.42%. The ex-dividend date is Monday, December 2nd. Olympic Steel’s payout ratio is 26.32%.

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.