The Capstone Asset Management Co. Cuts Position in Olympic Steel Inc. (ZEUS)

The Capstone Asset Management Co. Cuts Position in Olympic Steel Inc. (ZEUS)

Capstone Asset Management Co. decreased its position in shares of Olympic Steel Inc. (NASDAQ:ZEUS) by 0.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,996 shares of the company’s stock after selling 70 shares during the period. Capstone Asset Management Co. owned 0.09% of Olympic Steel worth $221,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in Olympic Steel by 1.0% in the second quarter. Bank of New York Mellon Corp now owns 121,884 shares of the company’s stock worth $3,328,000 after buying an additional 1,252 shares during the last quarter. Springbok Capital Management LLC increased its stake in Olympic Steel by 9.5% in the first quarter. Springbok Capital Management LLC now owns 16,100 shares of the company’s stock worth $279,000 after buying an additional 1,400 shares during the last quarter. Acrospire Investment Management LLC increased its stake in Olympic Steel by 352.4% in the second quarter. Acrospire Investment Management LLC now owns 8,473 shares of the company’s stock worth $231,000 after buying an additional 6,600 shares during the last quarter. Royce & Associates LP increased its stake in Olympic Steel by 19.1% in the first quarter. Royce & Associates LP now owns 294,180 shares of the company’s stock worth $5,092,000 after buying an additional 47,100 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Olympic Steel by 7,587.9% in the second quarter. JPMorgan Chase & Co. now owns 253,239 shares of the company’s stock worth $6,917,000 after buying an additional 249,945 shares during the last quarter. Institutional investors own 73.08% of the company’s stock.

Shares of Olympic Steel Inc. (NASDAQ:ZEUS) traded up 2.08% on Wednesday, hitting $21.59. The company had a trading volume of 76,063 shares. The company has a 50-day moving average of $20.32 and a 200 day moving average of $22.85. The stock’s market cap is $236.60 million. Olympic Steel Inc. has a 12 month low of $7.98 and a 12 month high of $31.19.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Tuesday, August 2nd. The company reported $0.32 EPS for the quarter, missing the consensus estimate of $0.39 by $0.07. Olympic Steel had a negative return on equity of 0.82% and a negative net margin of 0.27%. The firm earned $273.60 million during the quarter, compared to the consensus estimate of $305.66 million. During the same quarter last year, the company posted ($0.08) EPS. Olympic Steel’s revenue for the quarter was down 13.2% on a year-over-year basis. Analysts anticipate that Olympic Steel Inc. will post $0.74 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st were given a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.37%. The ex-dividend date of this dividend was Tuesday, August 30th. Olympic Steel’s dividend payout ratio (DPR) is -32.00%.

ZEUS has been the subject of a number of research reports. Zacks Investment Research downgraded shares of Olympic Steel from a “hold” rating to a “sell” rating in a research report on Tuesday, September 20th. KeyCorp downgraded Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 price objective for the company. in a research report on Friday, August 19th. Jefferies Group restated a “hold” rating on shares of Olympic Steel in a research report on Friday, September 30th. Finally, TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th.

Olympic Steel Company Profile

Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.

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