State Street Corp trimmed its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 18.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 487,057 shares of the basic materials company's stock after selling 107,580 shares during the quarter. State Street Corp owned 4.38% of Olympic Steel worth $18,995,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ZEUS. nVerses Capital LLC bought a new stake in Olympic Steel in the 3rd quarter worth $27,000. Innealta Capital LLC bought a new stake in shares of Olympic Steel in the second quarter worth about $58,000. Point72 DIFC Ltd bought a new stake in shares of Olympic Steel in the third quarter worth about $184,000. XTX Topco Ltd purchased a new position in Olympic Steel during the 2nd quarter valued at about $201,000. Finally, HighTower Advisors LLC bought a new position in Olympic Steel during the 3rd quarter valued at approximately $202,000. 87.07% of the stock is currently owned by institutional investors.
Shares of Olympic Steel stock opened at $33.39 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. The company has a market cap of $371.73 million, a P/E ratio of 14.64 and a beta of 1.49. The company's fifty day simple moving average is $39.39 and its two-hundred day simple moving average is $41.36.
The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Monday, December 2nd. Olympic Steel's payout ratio is currently 26.32%.
Separately, StockNews.com lowered Olympic Steel from a "buy" rating to a "hold" rating in a research report on Friday, October 25th.
Get Our Latest Stock Analysis on 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.
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