Proficio Capital Partners LLC Takes $493,000 Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Proficio Capital Partners LLC bought a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,027 shares of the basic materials company’s stock, valued at approximately $493,000. Proficio Capital Partners LLC owned approximately 0.13% of Olympic Steel at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the business. Janney Montgomery Scott LLC grew its stake in shares of Olympic Steel by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock valued at $1,175,000 after acquiring an additional 578 shares in the last quarter. Wedge Capital Management L L P NC lifted its position in shares of Olympic Steel by 2.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock worth $833,000 after purchasing an additional 705 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of 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 worth $247,000 after purchasing an additional 770 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Olympic Steel by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company’s stock worth $724,000 after purchasing an additional 780 shares during the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Olympic Steel by 5.6% during the fourth quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company’s stock worth $893,000 after purchasing an additional 1,432 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $32.30 on Monday. The firm’s 50 day moving average is $33.99 and its two-hundred day moving average is $37.14. Olympic Steel, Inc. has a 52 week low of $30.29 and a 52 week high of $73.27. The firm has a market capitalization of $359.69 million, a P/E ratio of 16.40 and a beta of 1.48. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. Analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is 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 currently 32.49%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on ZEUS. KeyCorp raised their target price on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an “overweight” rating in a report on Monday, February 24th. StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st.

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.