Janney Montgomery Scott LLC increased its position in Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) by 11.6% in the 3rd quarter, Holdings Channel reports. The firm owned 21,743 shares of the basic materials company’s stock after buying an additional 2,253 shares during the period. Janney Montgomery Scott LLC’s holdings in Olympic Steel were worth $496,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also made changes to their positions in the company. Quantbot Technologies LP increased its position in Olympic Steel by 42.1% in the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 337 shares during the period. Zebra Capital Management LLC increased its position in Olympic Steel by 5.7% in the 1st quarter. Zebra Capital Management LLC now owns 13,046 shares of the basic materials company’s stock valued at $502,000 after acquiring an additional 698 shares during the period. PDT Partners LLC increased its position in Olympic Steel by 10.2% in the 2nd quarter. PDT Partners LLC now owns 8,757 shares of the basic materials company’s stock valued at $225,000 after acquiring an additional 812 shares during the period. Citigroup Inc. increased its position in Olympic Steel by 12.2% in the 1st quarter. Citigroup Inc. now owns 7,796 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 847 shares during the period. Finally, Northern Trust Corp increased its position in Olympic Steel by 1.0% in the 2nd quarter. Northern Trust Corp now owns 96,136 shares of the basic materials company’s stock valued at $2,475,000 after acquiring an additional 958 shares during the period. 77.46% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Separately, StockNews.com upgraded Olympic Steel from a “hold” rating to a “buy” rating in a research report on Monday, November 14th.
Olympic Steel Stock Performance
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its earnings results on Thursday, November 3rd. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.21. Olympic Steel had a return on equity of 25.00% and a net margin of 4.20%. The company had revenue of $634.44 million for the quarter, compared to analysts’ expectations of $647.80 million. Research analysts expect that Olympic Steel, Inc. will post 7.67 EPS for the current year.
Olympic Steel Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Thursday, December 1st were given a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend was Wednesday, November 30th. Olympic Steel’s payout ratio is 3.72%.
Olympic Steel Company Profile
Olympic Steel, Inc processes, distributes, and storage 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 Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
- Get a free copy of the StockNews.com research report on Olympic Steel (ZEUS)
- CVS Health is Growing into an Integrated Healthcare Organization
- Is C3.ai Stock a ChatGPT Artificial Intelligence Play?
- NVIDIA Outlook Improving: Watchlist Candidate for 2023
- Which Wireless Stock Should You Buy in 2023?
- Is Virgin Galactic Stock Preparing for Lift-Off?
Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.