Stratos Wealth Partners LTD. Reduces Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Stratos Wealth Partners LTD. lowered its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 60.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,042 shares of the basic materials company’s stock after selling 4,648 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Olympic Steel were worth $203,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. increased its position in shares of Olympic Steel by 0.3% in the third quarter. Principal Financial Group Inc. now owns 57,986 shares of the basic materials company’s stock valued at $3,259,000 after buying an additional 198 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Olympic Steel by 4.3% in the fourth quarter. SG Americas Securities LLC now owns 5,961 shares of the basic materials company’s stock valued at $398,000 after buying an additional 246 shares in the last quarter. Northern Trust Corp increased its position in shares of Olympic Steel by 0.3% in the third quarter. Northern Trust Corp now owns 101,977 shares of the basic materials company’s stock valued at $5,732,000 after buying an additional 314 shares in the last quarter. Quantbot Technologies LP increased its position in shares of 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. Finally, New York State Teachers Retirement System increased its position in shares of Olympic Steel by 1.9% in the fourth quarter. New York State Teachers Retirement System now owns 21,741 shares of the basic materials company’s stock valued at $1,450,000 after buying an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut Olympic Steel from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 2nd.

Olympic Steel Trading Down 0.4 %

Olympic Steel stock opened at $68.34 on Wednesday. The stock has a market cap of $760.62 million, a PE ratio of 17.75 and a beta of 1.64. The stock has a 50-day moving average price of $68.27 and a 200 day moving average price of $61.70. Olympic Steel, Inc. has a 52 week low of $40.85 and a 52 week high of $73.49. The company has a current ratio of 3.35, a quick ratio of 1.20 and a debt-to-equity ratio of 0.34.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings data on Thursday, February 22nd. The basic materials company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.12. The firm had revenue of $489.41 million during the quarter, compared to analysts’ expectations of $490.10 million. Olympic Steel had a return on equity of 7.30% and a net margin of 2.06%. Equities research analysts predict that Olympic Steel, Inc. will post 3.41 earnings per share for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date was Friday, March 1st. This is a boost from Olympic Steel’s previous quarterly dividend of $0.13. Olympic Steel’s dividend payout ratio (DPR) is currently 15.58%.

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.