ClariVest Asset Management LLC increased its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 3.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 66,800 shares of the basic materials company’s stock after purchasing an additional 2,000 shares during the quarter. ClariVest Asset Management LLC owned 0.61% of Olympic Steel worth $1,060,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in Olympic Steel by 356.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,524 shares in the last quarter. Morgan Stanley grew its stake in shares of Olympic Steel by 9.3% during the 3rd quarter. Morgan Stanley now owns 170,485 shares of the basic materials company’s stock worth $3,559,000 after acquiring an additional 14,514 shares in the last quarter. BlackRock Inc. grew its stake in shares of Olympic Steel by 6.1% during the 4th quarter. BlackRock Inc. now owns 1,572,866 shares of the basic materials company’s stock worth $22,445,000 after acquiring an additional 89,864 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Olympic Steel by 2.9% during the 4th quarter. Geode Capital Management LLC now owns 98,973 shares of the basic materials company’s stock worth $1,412,000 after acquiring an additional 2,814 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 753,929 shares of the basic materials company’s stock worth $15,735,000 after acquiring an additional 84,066 shares in the last quarter. 66.05% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have issued reports on the company. Singular Research reiterated a “buy” rating on shares of Olympic Steel in a research report on Wednesday, March 13th. Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 27th.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, May 2nd. The basic materials company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.04). Olympic Steel had a net margin of 1.58% and a return on equity of 11.24%. The firm had revenue of $445.90 million for the quarter, compared to analyst estimates of $437.30 million. During the same period in the previous year, the business posted $0.70 earnings per share. The business’s revenue for the quarter was up 18.6% compared to the same quarter last year. Research analysts anticipate that Olympic Steel, Inc. will post 0.67 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.60%. The ex-dividend date was Friday, May 31st. Olympic Steel’s payout ratio is 2.28%.
Olympic Steel Company Profile
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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