JPMorgan Chase & Co. Raises Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

JPMorgan Chase & Co. raised its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 136.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 214,493 shares of the basic materials company's stock after buying an additional 123,632 shares during the period. JPMorgan Chase & Co. owned about 1.93% of Olympic Steel worth $8,365,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ZEUS. nVerses Capital LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at approximately $27,000. Point72 DIFC Ltd purchased a new stake in shares of Olympic Steel in the third quarter worth $184,000. XTX Topco Ltd bought a new stake in shares of Olympic Steel during the 2nd quarter valued at $201,000. HighTower Advisors LLC purchased a new position in shares of Olympic Steel during the 3rd quarter valued at $202,000. Finally, SG Americas Securities LLC bought a new position in Olympic Steel in the 3rd quarter worth $245,000. 87.07% of the stock is currently owned by institutional investors.

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 Price Performance

ZEUS traded up $0.35 during trading on Tuesday, hitting $32.85. 52,143 shares of the company traded hands, compared to its average volume of 73,805. 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 has a market cap of $365.72 million, a PE ratio of 14.41 and a beta of 1.53. The stock's 50-day simple moving average is $37.88 and its two-hundred day simple moving average is $39.88. Olympic Steel, Inc. has a 1 year low of $30.29 and a 1 year high of $73.49.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.83%. Olympic Steel's dividend 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.