Paloma Partners Management Co Invests $792,000 in Olympic Steel, Inc. (NASDAQ:ZEUS)

Paloma Partners Management Co purchased a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,296 shares of the basic materials company’s stock, valued at approximately $792,000. Paloma Partners Management Co owned approximately 0.18% of Olympic Steel at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ZEUS. nVerses Capital LLC acquired a new stake in shares of Olympic Steel in the 3rd quarter valued at $27,000. Innealta Capital LLC acquired a new position in Olympic Steel in the second quarter valued at about $58,000. XTX Topco Ltd bought a new stake in Olympic Steel during the second quarter worth about $201,000. SG Americas Securities LLC bought a new position in shares of Olympic Steel in the third quarter valued at approximately $245,000. Finally, Los Angeles Capital Management LLC raised its stake in shares of Olympic Steel by 28.6% in the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock valued at $263,000 after acquiring an additional 1,500 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors.

Olympic Steel Stock Up 1.7 %

Shares of NASDAQ ZEUS opened at $42.83 on Tuesday. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. The firm’s 50-day simple moving average is $39.24 and its 200 day simple moving average is $42.72. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The company has a market cap of $476.70 million, a price-to-earnings ratio of 18.79 and a beta of 1.49.

Olympic Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be given a dividend of $0.15 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.40%. Olympic Steel’s payout ratio is presently 26.32%.

Analyst Ratings Changes

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

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.