101,999 Shares in Olympic Steel, Inc. (NASDAQ:ZEUS) Bought by Walleye Capital LLC

Walleye Capital LLC acquired a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 101,999 shares of the basic materials company’s stock, valued at approximately $3,978,000. Walleye Capital LLC owned approximately 0.92% of Olympic Steel at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in shares of Olympic Steel in the 3rd quarter worth about $27,000. Innealta Capital LLC bought a new position in shares of Olympic Steel during the second quarter valued at approximately $58,000. XTX Topco Ltd purchased a new position in shares of Olympic Steel during the second quarter valued at approximately $201,000. SG Americas Securities LLC bought a new stake in shares of Olympic Steel in the 3rd quarter worth approximately $245,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Olympic Steel by 28.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after buying an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Olympic Steel Stock Performance

Shares of Olympic Steel stock opened at $42.28 on Monday. Olympic Steel, Inc. has a 1 year low of $32.23 and a 1 year high of $73.49. The firm’s 50-day moving average is $39.14 and its 200 day moving average is $42.81. The stock has a market cap of $470.58 million, a price-to-earnings ratio of 18.54 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 Dividend Announcement

The company 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 dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date is Monday, December 2nd. Olympic Steel’s payout ratio is 26.32%.

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.