Proficio Capital Partners LLC Takes Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Proficio Capital Partners LLC bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 15,027 shares of the basic materials company’s stock, valued at approximately $493,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of Olympic Steel in the third quarter valued at approximately $184,000. HighTower Advisors LLC acquired a new position in Olympic Steel in the 3rd quarter valued at $202,000. Los Angeles Capital Management LLC lifted its holdings in Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 770 shares in the last quarter. DRW Securities LLC acquired a new stake in Olympic Steel during the 3rd quarter worth $302,000. Finally, SG Americas Securities LLC grew its holdings in shares of Olympic Steel by 29.0% during the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock worth $266,000 after buying an additional 1,820 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

ZEUS has been the topic of a number of recent research reports. KeyCorp boosted their price target on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an “overweight” rating in a research report on Monday, February 24th. StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st.

Olympic Steel Stock Up 2.5 %

NASDAQ ZEUS opened at $32.65 on Tuesday. The business’s fifty day simple moving average is $34.03 and its 200-day simple moving average is $36.57. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The firm has a market cap of $363.59 million, a PE ratio of 16.57 and a beta of 1.48. Olympic Steel, Inc. has a 52 week low of $30.29 and a 52 week high of $73.27.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. As a group, equities analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were given a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 1.96%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 3rd. Olympic Steel’s dividend payout ratio is presently 32.49%.

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.