Rhumbline Advisers Purchases 1,469 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Rhumbline Advisers raised its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 4.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,436 shares of the basic materials company’s stock after buying an additional 1,469 shares during the quarter. Rhumbline Advisers owned about 0.29% of Olympic Steel worth $1,454,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Olympic Steel by 1.8% in the first quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock valued at $48,306,000 after acquiring an additional 12,242 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Olympic Steel by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock valued at $6,358,000 after purchasing an additional 25,201 shares during the last quarter. Sei Investments Co. increased its stake in shares of Olympic Steel by 5.2% in the 1st quarter. Sei Investments Co. now owns 76,498 shares of the basic materials company’s stock valued at $5,422,000 after purchasing an additional 3,756 shares during the last quarter. Empowered Funds LLC raised its holdings in shares of Olympic Steel by 8.2% during the 1st quarter. Empowered Funds LLC now owns 50,963 shares of the basic materials company’s stock worth $3,612,000 after buying an additional 3,850 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Olympic Steel by 0.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 28,710 shares of the basic materials company’s stock worth $2,035,000 after buying an additional 181 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Trading Down 4.3 %

Shares of Olympic Steel stock opened at $37.84 on Friday. The firm has a market capitalization of $421.27 million, a PE ratio of 10.09 and a beta of 1.48. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $42.25 and its 200 day moving average is $52.10. Olympic Steel, Inc. has a 1 year low of $34.81 and a 1 year high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The company had revenue of $526.25 million during the quarter. During the same quarter last year, the company posted $1.24 earnings per share.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Monday, September 2nd were given a $0.15 dividend. The ex-dividend date was Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.59%. Olympic Steel’s dividend payout ratio is presently 16.00%.

Analyst Ratings Changes

Separately, StockNews.com cut Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.

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.