Jane Street Group LLC Raises Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Jane Street Group LLC lifted its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 1,165.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 202,163 shares of the basic materials company's stock after acquiring an additional 186,192 shares during the period. Jane Street Group LLC owned 1.82% of Olympic Steel worth $7,884,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Walleye Capital LLC purchased a new stake in Olympic Steel in the 3rd quarter valued at $3,978,000. Assenagon Asset Management S.A. raised its holdings in shares of Olympic Steel by 1,020.4% in the third quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company's stock valued at $2,306,000 after buying an additional 53,857 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of Olympic Steel by 62.0% in the second quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company's stock valued at $4,429,000 after buying an additional 37,798 shares during the last quarter. FMR LLC boosted its stake in shares of Olympic Steel by 423.4% during the third quarter. FMR LLC now owns 44,496 shares of the basic materials company's stock worth $1,735,000 after buying an additional 35,995 shares during the period. Finally, American Century Companies Inc. grew its holdings in shares of Olympic Steel by 10.7% during the second quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company's stock worth $12,550,000 after buying an additional 27,123 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded 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 down $0.81 during midday trading on Friday, reaching $39.67. The stock had a trading volume of 67,212 shares, compared to its average volume of 113,140. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The stock has a market cap of $441.53 million, a P/E ratio of 17.40 and a beta of 1.49. The firm has a fifty day simple moving average of $39.76 and a two-hundred day simple moving average of $42.12. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a $0.15 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. Olympic Steel's payout ratio 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.