Massachusetts Financial Services Co. MA Has $1.81 Million Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Massachusetts Financial Services Co. MA grew its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 3.5% during the second quarter, HoldingsChannel reports. The firm owned 40,301 shares of the basic materials company’s stock after buying an additional 1,353 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Olympic Steel were worth $1,807,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Innealta Capital LLC bought a new position in Olympic Steel in the 2nd quarter worth $58,000. EntryPoint Capital LLC bought a new position in shares of Olympic Steel in the first quarter worth about $61,000. Cornerstone Investment Partners LLC acquired a new position in shares of Olympic Steel during the 1st quarter worth about $207,000. Versor Investments LP acquired a new position in shares of Olympic Steel during the 2nd quarter worth about $318,000. Finally, Harvest Investment Services LLC bought a new stake in Olympic Steel during the 4th quarter valued at approximately $395,000. 87.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research report on Wednesday, September 4th.

Olympic Steel Price Performance

Shares of Olympic Steel stock opened at $37.84 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. The company has a market cap of $421.27 million, a PE ratio of 10.09 and a beta of 1.48. The firm has a fifty day moving average price of $42.25 and a two-hundred day moving average price of $52.02. Olympic Steel, Inc. has a fifty-two week low of $34.81 and a fifty-two week high of $73.49.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The business had revenue of $526.25 million during the quarter. During the same quarter in the previous year, the business posted $1.24 EPS.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Friday, August 30th. Olympic Steel’s dividend payout ratio is presently 16.00%.

Olympic Steel Company 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.