Wedge Capital Management L L P NC Increases Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Wedge Capital Management L L P NC lifted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 41.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,669 shares of the basic materials company’s stock after purchasing an additional 7,289 shares during the period. Wedge Capital Management L L P NC owned 0.22% of Olympic Steel worth $962,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Exchange Traded Concepts LLC boosted its holdings in shares of Olympic Steel by 89.4% in the third quarter. Exchange Traded Concepts LLC now owns 25,782 shares of the basic materials company’s stock valued at $1,005,000 after purchasing an additional 12,168 shares during the period. Unison Advisors LLC purchased a new stake in shares of Olympic Steel in the third quarter valued at approximately $729,000. SG Americas Securities LLC purchased a new stake in shares of Olympic Steel in the third quarter valued at approximately $245,000. Squarepoint Ops LLC purchased a new stake in shares of Olympic Steel in the second quarter valued at approximately $398,000. Finally, Public Sector Pension Investment Board boosted its holdings in shares of Olympic Steel by 6.2% in the second quarter. Public Sector Pension Investment Board now owns 21,595 shares of the basic materials company’s stock valued at $968,000 after purchasing an additional 1,260 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Down 1.3 %

Olympic Steel stock opened at $38.28 on Thursday. The business has a fifty day moving average of $39.18 and a two-hundred day moving average of $48.61. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. The firm has a market cap of $426.06 million, a P/E ratio of 12.31 and a beta of 1.46. Olympic Steel, Inc. has a twelve month low of $34.81 and a twelve month high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $526.25 million during the quarter. Olympic Steel had a return on equity of 4.98% and a net margin of 1.74%. During the same quarter in the prior year, the company earned $1.24 EPS.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date of this dividend was Friday, August 30th. Olympic Steel’s payout ratio is presently 19.29%.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded Olympic Steel from a “hold” rating to a “buy” rating in a report on Tuesday, September 24th.

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.