Proficio Capital Partners LLC Buys New Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Proficio Capital Partners LLC purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 15,027 shares of the basic materials company’s stock, valued at approximately $493,000. Proficio Capital Partners LLC owned about 0.14% of Olympic Steel at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in ZEUS. Wedge Capital Management L L P NC boosted its stake in Olympic Steel by 2.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 705 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in shares of Olympic Steel by 11.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock worth $247,000 after buying an additional 770 shares during the period. Van ECK Associates Corp grew its holdings in shares of Olympic Steel by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company’s stock valued at $724,000 after buying an additional 780 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Olympic Steel by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company’s stock valued at $893,000 after acquiring an additional 1,432 shares during the period. Finally, SG Americas Securities LLC increased its position in shares of Olympic Steel by 29.0% in the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 1,820 shares during the period. 87.07% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ZEUS has been the subject of a number of research reports. KeyCorp lifted their target price on Olympic Steel from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st.

Olympic Steel Price Performance

Shares of ZEUS opened at $32.65 on Tuesday. The business’s 50-day moving average is $34.03 and its two-hundred day moving average is $36.57. The company has a market capitalization of $363.59 million, a P/E ratio of 16.57 and a beta of 1.48. Olympic Steel, Inc. has a fifty-two week low of $30.29 and a fifty-two week high of $73.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. Research analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were issued a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 3rd. This is an increase from Olympic Steel’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%. Olympic Steel’s dividend payout ratio is 32.49%.

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.