ExodusPoint Capital Management LP Sells 27,872 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

ExodusPoint Capital Management LP reduced its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 56.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,543 shares of the basic materials company's stock after selling 27,872 shares during the quarter. ExodusPoint Capital Management LP owned about 0.19% of Olympic Steel worth $707,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC grew its stake in 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 purchasing an additional 35,995 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Olympic Steel during the 3rd quarter worth approximately $202,000. Jane Street Group LLC grew its position in shares of Olympic Steel by 1,165.8% during the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company's stock worth $7,884,000 after buying an additional 186,192 shares during the period. Barclays PLC increased its stake in shares of Olympic Steel by 275.2% in the 3rd quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock valued at $606,000 after acquiring an additional 11,392 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Olympic Steel by 136.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock valued at $8,365,000 after acquiring an additional 123,632 shares during the period. 87.07% of the stock is currently owned by institutional investors.

Remove Ads

Analyst Ratings Changes

ZEUS has been the subject of several research analyst reports. StockNews.com downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp boosted their target price on Olympic Steel from $42.00 to $43.00 and gave the company an "overweight" rating in a research report on Monday, February 24th.

Olympic Steel Stock Down 0.5 %

Shares of ZEUS traded down $0.15 during trading hours on Tuesday, reaching $30.08. The stock had a trading volume of 54,014 shares, compared to its average volume of 117,980. The firm has a 50-day simple moving average of $32.65 and a 200 day simple moving average of $35.68. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $69.79. 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 capitalization of $335.78 million, a price-to-earnings ratio of 15.27 and a beta of 1.50.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.08 by $0.05. The firm had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. Equities research analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Monday, March 3rd were paid a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 2.13%. This is an increase from Olympic Steel's previous quarterly dividend of $0.15. Olympic Steel's payout ratio is 32.49%.

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.