Olympic Steel, Inc. (NASDAQ:ZEUS) Stock Holdings Increased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 9.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,387 shares of the basic materials company’s stock after acquiring an additional 813 shares during the period. Texas Permanent School Fund Corp owned approximately 0.08% of Olympic Steel worth $421,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of ZEUS. Bank of New York Mellon Corp raised 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 worth $6,358,000 after buying an additional 25,201 shares in the last quarter. Campbell & CO Investment Adviser LLC raised its stake in shares of Olympic Steel by 309.3% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 25,236 shares of the basic materials company’s stock worth $1,683,000 after buying an additional 19,071 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Olympic Steel by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock worth $48,306,000 after buying an additional 12,242 shares in the last quarter. Versor Investments LP bought a new stake in shares of Olympic Steel in the 2nd quarter worth $318,000. Finally, Teacher Retirement System of Texas bought a new stake in shares of Olympic Steel in the 4th quarter worth $468,000. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

Shares of NASDAQ ZEUS opened at $37.84 on Friday. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $421.27 million, a price-to-earnings ratio of 10.09 and a beta of 1.48. The stock’s fifty day simple moving average is $42.25 and its 200 day simple moving average is $52.10. Olympic Steel, Inc. has a 52-week low of $34.81 and a 52-week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The business had revenue of $526.25 million for the quarter. Olympic Steel had a return on equity of 4.98% and a net margin of 1.74%. During the same quarter in the previous year, the firm earned $1.24 earnings per share.

Olympic Steel Announces Dividend

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note 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.