XTX Topco Ltd Makes New $201,000 Investment in Olympic Steel, Inc. (NASDAQ:ZEUS)

XTX Topco Ltd purchased a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,480 shares of the basic materials company’s stock, valued at approximately $201,000.

Several other institutional investors have also modified their holdings of ZEUS. Renaissance Technologies LLC raised its holdings in Olympic Steel by 62.0% during the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock worth $4,429,000 after buying an additional 37,798 shares during the period. American Century Companies Inc. raised its holdings in shares of Olympic Steel by 10.7% during the second quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after acquiring an additional 27,123 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Olympic Steel by 21.6% during the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after acquiring an additional 25,201 shares during the period. Campbell & CO Investment Adviser LLC lifted its position in 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 valued at $1,683,000 after acquiring an additional 19,071 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in 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 purchasing an additional 12,242 shares during the period. Institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com raised Olympic Steel from a “hold” rating to a “buy” rating in a research note on Tuesday, September 24th.

Olympic Steel Trading Up 1.3 %

NASDAQ:ZEUS opened at $39.36 on Monday. The company has a market cap of $438.19 million, a P/E ratio of 10.50 and a beta of 1.48. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month high of $73.49. The business has a 50 day moving average price of $41.32 and a two-hundred day moving average price of $51.08. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $526.25 million for the quarter. During the same quarter in the previous year, the firm posted $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 dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 annualized dividend and a yield of 1.52%. Olympic Steel’s payout ratio is presently 16.00%.

Olympic Steel 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.