New York State Teachers Retirement System Sells 21,833 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

New York State Teachers Retirement System lowered its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 95.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 940 shares of the basic materials company's stock after selling 21,833 shares during the quarter. New York State Teachers Retirement System's holdings in Olympic Steel were worth $37,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Assenagon Asset Management S.A. grew its holdings in shares of Olympic Steel by 1,020.4% during the third quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company's stock worth $2,306,000 after purchasing an additional 53,857 shares during the last quarter. nVerses Capital LLC acquired a new stake in Olympic Steel in the 3rd quarter valued at about $27,000. Wedge Capital Management L L P NC raised its stake in shares of Olympic Steel by 41.9% in the third quarter. Wedge Capital Management L L P NC now owns 24,669 shares of the basic materials company's stock worth $962,000 after acquiring an additional 7,289 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Olympic Steel by 89.4% during the third quarter. Exchange Traded Concepts LLC now owns 25,782 shares of the basic materials company's stock valued at $1,005,000 after purchasing an additional 12,168 shares during the last quarter. Finally, Unison Advisors LLC acquired a new stake in shares of Olympic Steel in the third quarter valued at approximately $729,000. Institutional investors and hedge funds own 87.07% of the company's stock.

Analysts Set New Price Targets

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

Olympic Steel Trading Down 3.5 %

Shares of NASDAQ:ZEUS traded down $1.49 during trading on Tuesday, hitting $40.66. 66,227 shares of the company's stock were exchanged, compared to its average volume of 115,853. 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 firm has a market cap of $452.67 million, a P/E ratio of 18.49 and a beta of 1.47. The firm has a 50-day moving average price of $38.23 and a two-hundred day moving average price of $44.45. Olympic Steel, Inc. has a 1-year low of $32.23 and a 1-year high of $73.49.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, December 2nd. Olympic Steel's dividend payout ratio (DPR) is currently 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.