Olympic Steel, Inc. (NASDAQ:ZEUS) Short Interest Update

Olympic Steel, Inc. (NASDAQ:ZEUS) saw a large drop in short interest in the month of June. As of June 30th, there was short interest totalling 313,000 shares, a drop of 14.9% from the June 15th total of 367,700 shares. Based on an average trading volume of 89,800 shares, the short-interest ratio is currently 3.5 days. Approximately 3.2% of the company’s stock are sold short.

Institutional Investors Weigh In On Olympic Steel

Several institutional investors and hedge funds have recently made changes to their positions in ZEUS. Pacer Advisors Inc. lifted its position in Olympic Steel by 39.2% in the 4th quarter. Pacer Advisors Inc. now owns 723,902 shares of the basic materials company’s stock valued at $48,284,000 after acquiring an additional 203,796 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Olympic Steel by 1.8% in the first quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock worth $48,306,000 after purchasing an additional 12,242 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Olympic Steel by 19.6% during the third quarter. American Century Companies Inc. now owns 162,484 shares of the basic materials company’s stock valued at $9,133,000 after purchasing an additional 26,577 shares in the last quarter. Sei Investments Co. boosted its position in shares of Olympic Steel by 5.2% during the first quarter. Sei Investments Co. now owns 76,498 shares of the basic materials company’s stock valued at $5,422,000 after buying an additional 3,756 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Olympic Steel by 15.2% in the 1st quarter. Assenagon Asset Management S.A. now owns 70,688 shares of the basic materials company’s stock worth $5,010,000 after buying an additional 9,336 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Price Performance

ZEUS stock opened at $45.36 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.21 and a current ratio of 3.28. The firm has a 50 day moving average price of $48.67 and a 200-day moving average price of $60.64. Olympic Steel has a 52-week low of $40.39 and a 52-week high of $73.49. The firm has a market capitalization of $504.86 million, a price-to-earnings ratio of 12.10 and a beta of 1.52.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, May 2nd. The basic materials company reported $0.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.04. Olympic Steel had a return on equity of 6.39% and a net margin of 2.05%. The business had revenue of $526.64 million during the quarter, compared to analysts’ expectations of $550.80 million.

Olympic Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Stockholders of record on Monday, June 3rd were paid a $0.15 dividend. The ex-dividend date was Monday, June 3rd. This represents a $0.60 annualized dividend and a dividend yield of 1.32%. Olympic Steel’s dividend payout ratio is presently 16.00%.

About Olympic Steel

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.