State Street Corp Has $19 Million Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

State Street Corp lessened its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 18.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 487,057 shares of the basic materials company's stock after selling 107,580 shares during the quarter. State Street Corp owned approximately 4.38% of Olympic Steel worth $18,995,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in ZEUS. Walleye Capital LLC acquired a new stake in Olympic Steel during the third quarter worth approximately $3,978,000. Bank of New York Mellon Corp lifted its holdings in Olympic Steel by 21.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company's stock worth $6,358,000 after purchasing an additional 25,201 shares during the last quarter. Quest Partners LLC boosted its stake in Olympic Steel by 488.4% in the 3rd quarter. Quest Partners LLC now owns 15,411 shares of the basic materials company's stock valued at $601,000 after purchasing an additional 12,792 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in Olympic Steel in the 3rd quarter valued at $515,000. Finally, Unison Advisors LLC bought a new position in Olympic Steel during the 3rd quarter worth $729,000. Institutional investors and hedge funds own 87.07% of the company's stock.

Analysts Set New Price Targets

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

Olympic Steel Price Performance

Shares of ZEUS traded up $0.13 during midday trading on Tuesday, hitting $33.52. The company's stock had a trading volume of 31,119 shares, compared to its average volume of 115,442. 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, Inc. has a one year low of $32.23 and a one year high of $73.49. The stock has a market capitalization of $373.18 million, a price-to-earnings ratio of 14.70 and a beta of 1.49. The company's fifty day simple moving average is $39.28 and its two-hundred day simple moving average is $41.25.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Monday, December 2nd. Olympic Steel's dividend 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.