13,217 Shares in Olympic Steel, Inc. (NASDAQ:ZEUS) Acquired by Point72 Asia Singapore Pte. Ltd.

Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 13,217 shares of the basic materials company's stock, valued at approximately $515,000. Point72 Asia Singapore Pte. Ltd. owned 0.12% of Olympic Steel at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZEUS. nVerses Capital LLC bought a new stake in shares of Olympic Steel during the 3rd quarter worth approximately $27,000. Innealta Capital LLC bought a new stake in shares of Olympic Steel during the second quarter worth $58,000. XTX Topco Ltd purchased a new stake in shares of Olympic Steel during the second quarter valued at $201,000. SG Americas Securities LLC bought a new position in shares of Olympic Steel in the third quarter worth about $245,000. Finally, Los Angeles Capital Management LLC increased its stake in Olympic Steel by 28.6% in the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company's stock worth $263,000 after buying an additional 1,500 shares during the period. Institutional investors own 87.07% of the company's stock.

Olympic Steel Stock Performance

Olympic Steel stock traded down $0.96 during mid-day trading on Tuesday, reaching $41.87. 75,839 shares of the company traded hands, compared to its average volume of 116,376. Olympic Steel, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $73.49. The firm's fifty day moving average is $39.31 and its two-hundred day moving average is $42.64. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The company has a market capitalization of $466.01 million, a price-to-earnings ratio of 18.36 and a beta of 1.49.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.43%. Olympic Steel's payout ratio is 26.32%.

Analyst Upgrades and Downgrades

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

Olympic Steel Company 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.