Y Intercept Hong Kong Ltd Purchases 39,083 Shares of Olympic Steel, Inc. $ZEUS

Y Intercept Hong Kong Ltd lifted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 271.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,480 shares of the basic materials company’s stock after acquiring an additional 39,083 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Olympic Steel were worth $1,743,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ZEUS. CWM LLC lifted its position in Olympic Steel by 170.5% in 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 in the last quarter. Foundry Partners LLC purchased a new position in shares of Olympic Steel in the first quarter worth $4,082,000. Readystate Asset Management LP bought a new position in shares of Olympic Steel during the first quarter valued at $424,000. Meeder Asset Management Inc. bought a new position in shares of Olympic Steel during the first quarter valued at $179,000. Finally, Federated Hermes Inc. boosted its position in shares of Olympic Steel by 18,931.2% during the first quarter. Federated Hermes Inc. now owns 17,699 shares of the basic materials company’s stock valued at $558,000 after buying an additional 17,606 shares during the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. Weiss Ratings downgraded shares of Olympic Steel from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 24th. Finally, KeyCorp dropped their target price 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 research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Olympic Steel presently has a consensus rating of “Hold” and a consensus price target of $38.00.

Olympic Steel Price Performance

NASDAQ ZEUS opened at $37.00 on Friday. The company has a 50-day moving average price of $31.44 and a 200-day moving average price of $31.84. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week 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 firm has a market capitalization of $414.40 million, a P/E ratio of 31.62 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). Olympic Steel had a return on equity of 2.12% and a net margin of 0.73%.The business had revenue of $490.66 million during the quarter, compared to analysts’ expectations of $476.20 million. Equities research analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 15th. Stockholders of record on Monday, December 1st will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, December 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.7%. Olympic Steel’s payout ratio is presently 54.70%.

About Olympic Steel

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.