3,957 Shares in Olympic Steel, Inc. (NASDAQ:ZEUS) Purchased by Maryland State Retirement & Pension System

Nov 18, 2023

Maryland State Retirement & Pension System purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,957 shares of the basic materials company's stock, valued at approximately $207,000.

Several other hedge funds have also recently added to or reduced their stakes in ZEUS. Dorsey Wright & Associates acquired a new stake in shares of Olympic Steel during the first quarter worth approximately $29,000. Quantbot Technologies LP increased its holdings in shares of Olympic Steel by 42.1% during the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock worth $43,000 after buying an additional 337 shares in the last quarter. Victory Capital Management Inc. acquired a new stake in shares of Olympic Steel during the fourth quarter worth approximately $81,000. UBS Group AG increased its holdings in shares of Olympic Steel by 52.4% during the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company's stock worth $73,000 after buying an additional 970 shares in the last quarter. Finally, Denali Advisors LLC increased its holdings in shares of Olympic Steel by 77.8% during the fourth quarter. Denali Advisors LLC now owns 3,200 shares of the basic materials company's stock worth $107,000 after buying an additional 1,400 shares in the last quarter. Institutional investors and hedge funds own 82.19% of the company's stock.

Separately, StockNews.com raised shares of Olympic Steel from a "hold" rating to a "buy" rating in a report on Friday.

Shares of Olympic Steel stock opened at $48.60 on Monday. The company has a debt-to-equity ratio of 0.49, a current ratio of 3.56 and a quick ratio of 1.39. The firm has a market cap of $540.92 million, a P/E ratio of 8.85 and a beta of 1.79. The firm has a 50 day simple moving average of $45.53 and a 200 day simple moving average of $45.86. Olympic Steel, Inc. has a fifty-two week low of $22.62 and a fifty-two week high of $58.84.

Olympic Steel (NASDAQ:ZEUS - Free Report) last issued its quarterly earnings results on Thursday, May 4th. The basic materials company reported $1.15 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.27. The business had revenue of $573.08 million during the quarter, compared to analyst estimates of $596.60 million. Olympic Steel had a net margin of 2.61% and a return on equity of 13.10%. Sell-side analysts predict that Olympic Steel, Inc. will post 3.6 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Shareholders of record on Thursday, June 1st were paid a $0.125 dividend. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $0.50 dividend on an annualized basis and a yield of 1.03%. Olympic Steel's payout ratio is presently 9.11%.

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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