Charles Schwab Investment Management Inc. Trims Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Charles Schwab Investment Management Inc. cut its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 28.0% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,534 shares of the basic materials company's stock after selling 37,140 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.86% of Olympic Steel worth $3,726,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Quest Partners LLC boosted its position in shares of Olympic Steel by 488.4% during the third quarter. Quest Partners LLC now owns 15,411 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 12,792 shares in the last quarter. Empowered Funds LLC boosted its holdings in Olympic Steel by 5.4% in the third quarter. Empowered Funds LLC now owns 57,871 shares of the basic materials company's stock worth $2,257,000 after acquiring an additional 2,948 shares in the last quarter. Royce & Associates LP boosted its holdings in Olympic Steel by 17.3% in the third quarter. Royce & Associates LP now owns 49,196 shares of the basic materials company's stock worth $1,919,000 after acquiring an additional 7,253 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Olympic Steel by 127.0% in the third quarter. Victory Capital Management Inc. now owns 12,989 shares of the basic materials company's stock worth $507,000 after acquiring an additional 7,266 shares in the last quarter. Finally, Los Angeles Capital Management LLC boosted its holdings in 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 worth $263,000 after acquiring an additional 1,500 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Down 2.0 %

Olympic Steel stock traded down $0.81 during mid-day trading on Friday, hitting $39.67. The company had a trading volume of 67,212 shares, compared to its average volume of 113,140. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The stock's 50 day moving average price is $39.76 and its two-hundred day moving average price is $41.97. Olympic Steel, Inc. has a 12 month low of $32.23 and a 12 month high of $73.49. The company has a market capitalization of $441.53 million, a PE ratio of 17.40 and a beta of 1.49.

Olympic Steel Dividend Announcement

The firm 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 1.51%. The ex-dividend date is Monday, December 2nd. Olympic Steel's payout ratio is currently 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.