Walleye Capital LLC Purchases Shares of 101,999 Olympic Steel, Inc. (NASDAQ:ZEUS)

Walleye Capital LLC bought a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 101,999 shares of the basic materials company's stock, valued at approximately $3,978,000. Walleye Capital LLC owned about 0.92% of Olympic Steel at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in ZEUS. nVerses Capital LLC purchased a new position in shares of Olympic Steel in the third quarter worth $27,000. Innealta Capital LLC bought a new position in Olympic Steel in the 2nd quarter worth approximately $58,000. XTX Topco Ltd bought a new stake in Olympic Steel in the second quarter worth $201,000. SG Americas Securities LLC bought a new stake in shares of Olympic Steel during the third quarter worth $245,000. Finally, Los Angeles Capital Management LLC raised its holdings 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 in the last quarter. Institutional investors own 87.07% of the company's stock.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Performance

NASDAQ:ZEUS traded up $0.70 during trading hours on Monday, reaching $42.83. The company had a trading volume of 83,404 shares, compared to its average volume of 116,551. Olympic Steel, Inc. has a 1-year low of $32.23 and a 1-year high of $73.49. The firm has a market cap of $476.83 million, a PE ratio of 18.53 and a beta of 1.47. The business's 50 day moving average price is $39.14 and its 200-day moving average price is $42.81. 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 Announces Dividend

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

Olympic Steel 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.