Fmr LLC Grows Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

FMR LLC lifted its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 423.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,496 shares of the basic materials company's stock after buying an additional 35,995 shares during the period. FMR LLC owned approximately 0.40% of Olympic Steel worth $1,735,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC bought a new stake in Olympic Steel in the third quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in shares of Olympic Steel during the second quarter valued at about $58,000. XTX Topco Ltd purchased a new position in Olympic Steel during the 2nd quarter valued at about $201,000. SG Americas Securities LLC bought a new position in Olympic Steel during the 3rd quarter valued at approximately $245,000. Finally, Los Angeles Capital Management LLC lifted its holdings 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 worth $263,000 after buying an additional 1,500 shares during the period. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Up 0.7 %

Shares of ZEUS stock traded up $0.26 during midday trading on Monday, reaching $39.93. 94,189 shares of the stock were exchanged, compared to its average volume of 115,414. The firm has a market cap of $444.42 million, a PE ratio of 17.40 and a beta of 1.49. 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 company's 50 day moving average is $39.76 and its two-hundred day moving average is $41.97. Olympic Steel, Inc. has a 1 year low of $32.23 and a 1 year high of $73.49.

Olympic Steel Dividend Announcement

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 is Monday, December 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.50%. Olympic Steel's payout ratio is 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.