Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Purchased by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC grew its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 28.6% during the third quarter, Holdings Channel reports. The firm owned 6,747 shares of the basic materials company’s stock after purchasing an additional 1,500 shares during the period. Los Angeles Capital Management LLC’s holdings in Olympic Steel were worth $263,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Assenagon Asset Management S.A. increased its position in Olympic Steel by 1,020.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company’s stock valued at $2,306,000 after acquiring an additional 53,857 shares during the period. Renaissance Technologies LLC increased its stake in Olympic Steel by 62.0% in the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock valued at $4,429,000 after buying an additional 37,798 shares during the period. American Century Companies Inc. lifted its stake in shares of Olympic Steel by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after acquiring an additional 27,123 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Olympic Steel by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock valued at $6,358,000 after acquiring an additional 25,201 shares in the last quarter. Finally, Unison Advisors LLC purchased a new position in Olympic Steel during the third quarter worth about $729,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

Olympic Steel Trading Up 1.6 %

Shares of ZEUS stock opened at $40.26 on Tuesday. The business’s fifty day moving average price is $38.42 and its 200 day moving average price is $43.73. The firm has a market capitalization of $448.09 million, a PE ratio of 17.66 and a beta of 1.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. Olympic Steel, Inc. has a 1-year low of $32.23 and a 1-year high of $73.49.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.49%. Olympic Steel’s dividend payout ratio is presently 26.32%.

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.