Acadian Asset Management LLC Cuts Stake in Olympic Steel, Inc. $ZEUS

Acadian Asset Management LLC lessened its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 3.6% during the first quarter, HoldingsChannel.com reports. The fund owned 404,902 shares of the basic materials company’s stock after selling 15,259 shares during the quarter. Acadian Asset Management LLC’s holdings in Olympic Steel were worth $12,756,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Olympic Steel by 178.7% during the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 586 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in shares of Olympic Steel by 33.6% during the 1st quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 605 shares during the last quarter. CWM LLC boosted its holdings in shares of Olympic Steel by 170.5% during the 1st quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock valued at $78,000 after acquiring an additional 1,552 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Olympic Steel by 20.1% during the 1st quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 830 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in shares of Olympic Steel during the 1st quarter valued at about $179,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ZEUS. Wall Street Zen downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. KeyCorp dropped their price target on shares of Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $38.00.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $33.80 on Friday. The firm’s 50 day moving average price is $32.98 and its 200-day moving average price is $32.06. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $43.60. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. The stock has a market capitalization of $378.56 million, a PE ratio of 27.70 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.59 by ($0.09). Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%.The business had revenue of $496.48 million during the quarter, compared to the consensus estimate of $506.60 million. Equities research analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a dividend of $0.16 per share. The ex-dividend date is Tuesday, September 2nd. This represents a $0.64 dividend on an annualized basis and a yield of 1.9%. Olympic Steel’s dividend payout ratio (DPR) is presently 52.46%.

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.