KLP Kapitalforvaltning AS Buys New Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

KLP Kapitalforvaltning AS acquired a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,700 shares of the basic materials company’s stock, valued at approximately $548,000. KLP Kapitalforvaltning AS owned approximately 0.15% of Olympic Steel at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Point72 DIFC Ltd acquired a new stake in Olympic Steel in the 3rd quarter valued at $184,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at approximately $202,000. Magnetar Financial LLC purchased a new stake in shares of Olympic Steel during the 4th quarter worth approximately $216,000. Los Angeles Capital Management LLC grew its holdings in 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 valued at $247,000 after purchasing an additional 770 shares during the period. Finally, SG Americas Securities LLC grew its stake in shares of Olympic Steel by 29.0% during the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock worth $266,000 after acquiring an additional 1,820 shares during the period. 87.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Olympic Steel Trading Up 0.8 %

ZEUS opened at $31.66 on Thursday. Olympic Steel, Inc. has a one year low of $30.29 and a one year high of $73.27. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The business has a 50 day simple moving average of $33.80 and a two-hundred day simple moving average of $36.32. The firm has a market capitalization of $352.57 million, a price-to-earnings ratio of 16.07 and a beta of 1.48.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. The company had revenue of $418.78 million during 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%. Analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors 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%. The ex-dividend date of this dividend was Monday, March 3rd. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. Olympic Steel’s dividend payout ratio (DPR) is 32.49%.

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.