Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 34.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 62,681 shares of the basic materials company’s stock after selling 32,853 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.56% of Olympic Steel worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Point72 DIFC Ltd acquired a new stake in shares of Olympic Steel in the third quarter worth $184,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel in the 3rd quarter worth about $202,000. Los Angeles Capital Management LLC lifted its holdings in shares of Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 770 shares during the last quarter. SG Americas Securities LLC lifted its position in 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 purchasing an additional 1,820 shares during the last quarter. Finally, Quantbot Technologies LP increased its position in Olympic Steel by 68.3% in the 3rd quarter. Quantbot Technologies LP now owns 8,594 shares of the basic materials company’s stock valued at $335,000 after acquiring an additional 3,489 shares during the period. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of ZEUS opened at $31.61 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The firm has a market cap of $352.01 million, a PE ratio of 16.05 and a beta of 1.48. The firm’s 50 day moving average price is $33.94 and its 200 day moving average price is $36.45. Olympic Steel, Inc. has a twelve month low of $30.29 and a twelve month high of $73.27.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. As a group, research analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were issued a dividend of $0.16 per share. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.02%. Olympic Steel’s dividend payout ratio is currently 32.49%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, March 1st. KeyCorp boosted their target price on Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, February 24th.

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.