Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System increased its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 1.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,741 shares of the basic materials company’s stock after purchasing an additional 400 shares during the period. New York State Teachers Retirement System owned 0.20% of Olympic Steel worth $1,450,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in shares of Olympic Steel by 42.1% during the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 337 shares in the last quarter. UBS Group AG grew its position in Olympic Steel by 52.4% in the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company’s stock worth $73,000 after buying an additional 970 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of Olympic Steel in the fourth quarter valued at $81,000. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Olympic Steel during the 3rd quarter valued at $95,000. Finally, Fortis Capital Advisors LLC bought a new stake in shares of Olympic Steel during the 1st quarter worth $103,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Performance

ZEUS opened at $67.92 on Thursday. Olympic Steel, Inc. has a 52-week low of $40.85 and a 52-week high of $73.49. The company has a market cap of $755.95 million, a PE ratio of 17.64 and a beta of 1.64. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.20 and a current ratio of 3.35. The stock has a 50-day moving average of $68.30 and a 200-day moving average of $61.74.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, February 22nd. The basic materials company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.12. The business had revenue of $489.41 million for the quarter, compared to analyst estimates of $490.10 million. Olympic Steel had a net margin of 2.06% and a return on equity of 7.30%. As a group, equities research analysts forecast that Olympic Steel, Inc. will post 3.41 earnings per share for the current fiscal year.

Olympic Steel Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a $0.15 dividend. This is a boost from Olympic Steel’s previous quarterly dividend of $0.13. The ex-dividend date of this dividend was Friday, March 1st. This represents a $0.60 annualized dividend and a yield of 0.88%. Olympic Steel’s dividend payout ratio is 15.58%.

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.