Paloma Partners Management Co Buys New Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Paloma Partners Management Co bought a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,296 shares of the basic materials company's stock, valued at approximately $792,000. Paloma Partners Management Co owned about 0.18% of Olympic Steel as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ZEUS. nVerses Capital LLC acquired a new position in shares of Olympic Steel during the third quarter worth $27,000. Innealta Capital LLC acquired a new position in Olympic Steel during the 2nd quarter valued at about $58,000. XTX Topco Ltd acquired a new stake in Olympic Steel in the second quarter worth about $201,000. SG Americas Securities LLC purchased a new stake in shares of Olympic Steel during the third quarter worth about $245,000. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company's stock valued at $263,000 after acquiring an additional 1,500 shares in the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Olympic Steel Stock Performance

Shares of NASDAQ ZEUS traded down $0.96 during mid-day trading on Tuesday, hitting $41.87. The stock had a trading volume of 75,839 shares, compared to its average volume of 116,376. The firm has a market cap of $466.01 million, a PE ratio of 18.36 and a beta of 1.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The company has a 50 day moving average of $39.31 and a two-hundred day moving average of $42.64. Olympic Steel, Inc. has a twelve month low of $32.23 and a twelve 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. Stockholders of record on Monday, December 2nd will be paid a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 1.43%. The ex-dividend date is Monday, December 2nd. Olympic Steel's payout ratio is 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.