Van ECK Associates Corp lowered its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 29.9% during the fourth quarter, HoldingsChannel reports. The firm owned 7,459 shares of the basic materials company’s stock after selling 3,181 shares during the period. Van ECK Associates Corp’s holdings in Olympic Steel were worth $106,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ZEUS. Matarin Capital Management LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at $4,011,000. BlackRock Inc. raised its holdings in shares of Olympic Steel by 6.1% during the 4th quarter. BlackRock Inc. now owns 1,572,866 shares of the basic materials company’s stock valued at $22,445,000 after purchasing an additional 89,864 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc now owns 753,929 shares of the basic materials company’s stock valued at $15,735,000 after purchasing an additional 84,066 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Olympic Steel by 12.5% during the 3rd quarter. Vanguard Group Inc. now owns 753,929 shares of the basic materials company’s stock valued at $15,735,000 after purchasing an additional 84,066 shares in the last quarter. Finally, Bowling Portfolio Management LLC bought a new position in shares of Olympic Steel during the 4th quarter valued at $1,105,000. Institutional investors and hedge funds own 66.22% of the company’s stock.

Shares of ZEUS opened at $16.69 on Friday. The firm has a market capitalization of $183.72 million, a P/E ratio of 4.75 and a beta of 2.12. Olympic Steel, Inc. has a one year low of $13.72 and a one year high of $24.27. The company has a current ratio of 4.38, a quick ratio of 1.51 and a debt-to-equity ratio of 0.99.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Friday, February 15th. The basic materials company reported $0.14 EPS for the quarter, missing the consensus estimate of $0.17 by ($0.03). The firm had revenue of $429.59 million during the quarter, compared to the consensus estimate of $408.45 million. Olympic Steel had a return on equity of 13.51% and a net margin of 1.97%. The business’s revenue was up 39.4% compared to the same quarter last year. During the same quarter last year, the business earned ($0.04) EPS. On average, research analysts expect that Olympic Steel, Inc. will post 1.7 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.02 dividend. The ex-dividend date of this dividend was Thursday, February 28th. This represents a $0.08 annualized dividend and a yield of 0.48%. Olympic Steel’s dividend payout ratio (DPR) is presently 2.28%.

ZEUS has been the topic of a number of recent research reports. ValuEngine downgraded shares of Olympic Steel from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “strong-buy” rating and set a $23.00 target price on the stock in a report on Saturday, November 17th. Finally, Singular Research reiterated a “buy” rating on shares of Olympic Steel in a report on Wednesday.

In other news, CEO Richard T. Marabito bought 5,320 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were purchased at an average price of $18.95 per share, for a total transaction of $100,814.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 18.28% of the company’s stock.

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Olympic Steel Profile

Olympic Steel, Inc processes and distributes 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.

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Institutional Ownership by Quarter for Olympic Steel (NASDAQ:ZEUS)

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