Hsbc Holdings PLC Has $637,000 Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Hsbc Holdings PLC lifted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 98.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,524 shares of the basic materials company’s stock after buying an additional 9,683 shares during the quarter. Hsbc Holdings PLC’s holdings in Olympic Steel were worth $637,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the company. New Age Alpha Advisors LLC bought a new stake in shares of Olympic Steel during the fourth quarter worth approximately $59,000. Magnetar Financial LLC acquired a new position in Olympic Steel during the fourth quarter valued at approximately $216,000. Los Angeles Capital Management LLC boosted its stake in Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after buying an additional 770 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Olympic Steel by 29.0% during the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock valued at $266,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Olympic Steel by 16.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company’s stock valued at $298,000 after purchasing an additional 1,257 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on ZEUS. KeyCorp upped their price target 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 Olympic Steel from a “buy” rating to a “hold” rating in a research note on Saturday, March 1st.

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $32.93 on Tuesday. The company has a market capitalization of $367.60 million, a price-to-earnings ratio of 16.72 and a beta of 1.75. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $58.54. The stock has a fifty day simple moving average of $31.42 and a 200 day simple moving average of $34.90. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.24 by ($0.03). Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $492.94 million during the quarter, compared to analyst estimates of $466.80 million. Sell-side analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel’s dividend payout ratio (DPR) is currently 44.76%.

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.