Point72 Asia Singapore Pte. Ltd. Acquires Shares of 13,217 Olympic Steel, Inc. (NASDAQ:ZEUS)

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,217 shares of the basic materials company’s stock, valued at approximately $515,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ZEUS. nVerses Capital LLC purchased a new stake in Olympic Steel during the 3rd quarter valued at approximately $27,000. Innealta Capital LLC acquired a new position in shares of Olympic Steel in the second quarter valued at approximately $58,000. XTX Topco Ltd acquired a new position in shares of Olympic Steel in the second quarter valued at approximately $201,000. SG Americas Securities LLC purchased a new stake in shares of Olympic Steel during the third quarter worth approximately $245,000. Finally, Los Angeles Capital Management LLC grew its position in 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 valued at $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 downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, October 25th.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $42.83 on Tuesday. Olympic Steel, Inc. has a 52 week low of $32.23 and a 52 week high of $73.49. The company has a 50-day moving average price of $39.24 and a 200 day moving average price of $42.72. The company has a market cap of $476.70 million, a P/E ratio of 18.79 and a beta of 1.49. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid 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 1.40%. Olympic Steel’s dividend payout ratio (DPR) 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.