Beddow Capital Management Inc. Takes $261,000 Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Oct 13, 2023

Beddow Capital Management Inc. purchased a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 5,000 shares of the basic materials company's stock, valued at approximately $261,000.

Other large investors have also recently added to or reduced their stakes in the company. Dorsey Wright & Associates acquired a new position in shares of Olympic Steel during the 1st quarter worth $29,000. Quantbot Technologies LP increased its holdings in Olympic Steel by 42.1% in the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock valued at $43,000 after buying an additional 337 shares in the last quarter. Ellevest Inc. increased its holdings in Olympic Steel by 13.3% in the first quarter. Ellevest Inc. now owns 2,118 shares of the basic materials company's stock valued at $111,000 after buying an additional 249 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Olympic Steel during the 4th quarter valued at approximately $81,000. Finally, UBS Group AG boosted its stake in shares of Olympic Steel by 52.4% during the 2nd quarter. UBS Group AG now owns 2,820 shares of the basic materials company's stock worth $73,000 after acquiring an additional 970 shares in the last quarter. 82.19% of the stock is owned by hedge funds and other institutional investors.

Shares of Olympic Steel stock traded up $0.01 on Friday, hitting $49.71. The company's stock had a trading volume of 38,040 shares, compared to its average volume of 111,430. The company has a quick ratio of 1.42, a current ratio of 3.69 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $49.64 and a 200-day moving average price of $48.54. Olympic Steel, Inc. has a 52-week low of $22.62 and a 52-week high of $58.84. The company has a market capitalization of $553.27 million, a P/E ratio of 14.14 and a beta of 1.80.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be paid a dividend of $0.125 per share. The ex-dividend date is Thursday, August 31st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 1.01%. Olympic Steel's dividend payout ratio (DPR) is 14.16%.

Separately, StockNews.com raised Olympic Steel from a "hold" rating to a "buy" rating in a report on Friday, July 7th.

View Our Latest Report on ZEUS

Olympic Steel, Inc processes, distributes, and stores metal products in the United States and internationally. 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.

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