nVerses Capital LLC Invests $27,000 in Olympic Steel, Inc. (NASDAQ:ZEUS)

nVerses Capital LLC purchased a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 700 shares of the basic materials company’s stock, valued at approximately $27,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC raised 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 valued at $2,035,000 after buying an additional 181 shares in the last quarter. Illinois Municipal Retirement Fund increased its stake in Olympic Steel by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 197 shares during the last quarter. SummerHaven Investment Management LLC raised its position in Olympic Steel by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock valued at $649,000 after purchasing an additional 292 shares during the period. ClariVest Asset Management LLC lifted its stake in shares of Olympic Steel by 2.9% in the 2nd quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock valued at $624,000 after purchasing an additional 390 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Olympic Steel by 5.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock valued at $702,000 after purchasing an additional 471 shares during the last quarter. 87.07% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

Olympic Steel Trading Down 3.3 %

Shares of ZEUS opened at $36.53 on Thursday. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month high of $73.49. 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 company’s fifty day simple moving average is $38.91 and its 200-day simple moving average is $47.41. The company has a market cap of $406.69 million, a P/E ratio of 9.74 and a beta of 1.46.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data 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 business had revenue of $526.25 million during the quarter. During the same period in the previous year, the business earned $1.24 EPS.

Olympic Steel Dividend Announcement

The firm also recently disclosed 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. This represents a $0.60 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Friday, August 30th. Olympic Steel’s payout ratio is currently 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.