Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Denali Advisors LLC

Denali Advisors LLC lowered its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 58.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 2,800 shares of the basic materials company’s stock after selling 3,900 shares during the quarter. Denali Advisors LLC’s holdings in Olympic Steel were worth $198,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in ZEUS. SummerHaven Investment Management LLC grew its position in Olympic Steel by 1.3% in the 4th quarter. SummerHaven Investment Management LLC now owns 14,036 shares of the basic materials company’s stock valued at $936,000 after acquiring an additional 184 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Olympic Steel by 4.3% in the fourth quarter. SG Americas Securities LLC now owns 5,961 shares of the basic materials company’s stock valued at $398,000 after purchasing an additional 246 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in Olympic Steel by 1.9% in the fourth quarter. New York State Teachers Retirement System now owns 21,741 shares of the basic materials company’s stock valued at $1,450,000 after purchasing an additional 400 shares in the last quarter. Wedge Capital Management L L P NC boosted its holdings in Olympic Steel by 13.9% in the fourth quarter. Wedge Capital Management L L P NC now owns 8,321 shares of the basic materials company’s stock valued at $555,000 after purchasing an additional 1,018 shares in the last quarter. Finally, AJOVista LLC purchased a new stake in Olympic Steel in the fourth quarter valued at approximately $75,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Stock Performance

NASDAQ ZEUS traded up $0.29 on Wednesday, reaching $43.82. The stock had a trading volume of 44,974 shares, compared to its average volume of 87,124. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 3.28. Olympic Steel, Inc. has a 12-month low of $43.28 and a 12-month high of $73.49. The business’s 50-day moving average price is $52.15 and its 200 day moving average price is $61.94. The stock has a market cap of $487.85 million, a P/E ratio of 11.69 and a beta of 1.52.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.77 earnings per share for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Olympic Steel had a return on equity of 6.39% and a net margin of 2.05%. The company had revenue of $526.64 million during the quarter, compared to analysts’ expectations of $550.80 million.

Olympic Steel Announces Dividend

The business 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 $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.37%. The ex-dividend date of this dividend was Monday, June 3rd. Olympic Steel’s dividend payout ratio (DPR) is presently 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.