Panagora Asset Management Inc. Sells 412 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Panagora Asset Management Inc. reduced its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUSFree Report) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 16,491 shares of the basic materials company’s stock after selling 412 shares during the quarter. Panagora Asset Management Inc. owned 0.15% of Olympic Steel worth $1,100,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Assenagon Asset Management S.A. bought a new position in shares of Olympic Steel during the third quarter valued at about $2,816,000. Barclays PLC boosted its holdings in shares of Olympic Steel by 29.3% during the third quarter. Barclays PLC now owns 10,896 shares of the basic materials company’s stock worth $611,000 after purchasing an additional 2,468 shares during the period. New York State Teachers Retirement System boosted its holdings in shares of Olympic Steel by 1.9% during the fourth quarter. New York State Teachers Retirement System now owns 21,741 shares of the basic materials company’s stock worth $1,450,000 after purchasing an additional 400 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Olympic Steel by 35.4% during the fourth quarter. Van ECK Associates Corp now owns 13,294 shares of the basic materials company’s stock worth $887,000 after purchasing an additional 3,476 shares during the period. Finally, American Century Companies Inc. boosted its holdings in shares of Olympic Steel by 19.6% during the third quarter. American Century Companies Inc. now owns 162,484 shares of the basic materials company’s stock worth $9,133,000 after purchasing an additional 26,577 shares during the period. 87.07% of the stock is owned by institutional investors.

Olympic Steel Price Performance

Shares of ZEUS opened at $53.97 on Thursday. The company has a market capitalization of $600.69 million, a P/E ratio of 14.39 and a beta of 1.67. The company has a quick ratio of 1.21, a current ratio of 3.28 and a debt-to-equity ratio of 0.35. The firm has a 50 day moving average of $64.20 and a 200 day moving average of $63.27. Olympic Steel, Inc. has a twelve month low of $40.85 and a twelve month high of $73.49.

Olympic Steel (NASDAQ:ZEUSGet Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.12. The company had revenue of $489.41 million during the quarter, compared to the consensus estimate of $490.10 million. Olympic Steel had a net margin of 2.05% and a return on equity of 6.39%. As a group, equities research analysts anticipate that Olympic Steel, Inc. will post 2.47 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Monday, June 3rd will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend is Monday, June 3rd. Olympic Steel’s dividend payout ratio (DPR) is presently 16.00%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of Olympic Steel from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 2nd.

View Our Latest Report on ZEUS

Olympic Steel Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

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