Swiss National Bank Reduces Stock Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Swiss National Bank trimmed its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 8.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,139 shares of the basic materials company’s stock after selling 1,661 shares during the period. Swiss National Bank owned about 0.16% of Olympic Steel worth $595,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its position in Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock worth $8,365,000 after acquiring an additional 123,632 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Olympic Steel by 1,165.8% during the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock worth $7,884,000 after purchasing an additional 186,192 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Olympic Steel by 23.1% during the 4th quarter. Bank of New York Mellon Corp now owns 122,269 shares of the basic materials company’s stock worth $4,012,000 after purchasing an additional 22,908 shares during the period. Walleye Capital LLC acquired a new stake in shares of Olympic Steel during the third quarter worth $3,978,000. Finally, Empowered Funds LLC grew its position in shares of Olympic Steel by 5.1% in the fourth quarter. Empowered Funds LLC now owns 60,805 shares of the basic materials company’s stock valued at $1,995,000 after purchasing an additional 2,934 shares during the period. 87.07% of the stock is owned by institutional investors and hedge funds.

Olympic Steel Trading Down 2.3 %

ZEUS stock opened at $31.61 on Friday. 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 company has a market cap of $352.01 million, a price-to-earnings ratio of 16.05 and a beta of 1.48. The business has a fifty day simple moving average of $33.94 and a 200-day simple moving average of $36.45. Olympic Steel, Inc. has a 52 week low of $30.29 and a 52 week high of $73.27.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly 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. The company had revenue of $418.78 million during the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, equities research analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. This is a boost from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 3rd. Olympic Steel’s payout ratio is 32.49%.

Analyst Ratings Changes

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

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.