Quest Partners LLC Acquires 12,792 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Quest Partners LLC increased its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 488.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,411 shares of the basic materials company's stock after purchasing an additional 12,792 shares during the period. Quest Partners LLC owned 0.14% of Olympic Steel worth $601,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC purchased a new stake in Olympic Steel in the third quarter worth $27,000. Innealta Capital LLC purchased a new stake in Olympic Steel in the second quarter worth $58,000. EntryPoint Capital LLC purchased a new stake in Olympic Steel in the first quarter worth $61,000. XTX Topco Ltd purchased a new stake in shares of Olympic Steel in the second quarter worth $201,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Olympic Steel in the third quarter worth $245,000. 87.07% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Olympic Steel Stock Up 4.0 %

Shares of NASDAQ ZEUS traded up $1.65 during trading on Friday, reaching $42.41. The company had a trading volume of 142,075 shares, compared to its average volume of 111,787. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. The stock has a market cap of $472.02 million, a PE ratio of 18.60 and a beta of 1.47. The business's 50-day moving average is $38.70 and its 200 day moving average is $43.40. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date is Monday, December 2nd. Olympic Steel's payout ratio is currently 26.32%.

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.