Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. decreased its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 0.9% during the third quarter, HoldingsChannel reports. The firm owned 122,773 shares of the basic materials company’s stock after selling 1,136 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Olympic Steel were worth $4,788,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. nVerses Capital LLC purchased a new stake in shares of Olympic Steel during the third quarter valued at $27,000. Innealta Capital LLC acquired a new stake in Olympic Steel during the 2nd quarter worth about $58,000. XTX Topco Ltd purchased a new stake in Olympic Steel during the 2nd quarter valued at about $201,000. HighTower Advisors LLC acquired a new position in shares of Olympic Steel in the third quarter valued at about $202,000. Finally, SG Americas Securities LLC purchased a new position in shares of Olympic Steel in the third quarter worth about $245,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Ratings Changes

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

Olympic Steel Stock Down 3.3 %

ZEUS stock opened at $40.68 on Friday. The company has a market capitalization of $452.89 million, a P/E ratio of 17.84 and a beta of 1.49. Olympic Steel, Inc. has a 12 month low of $32.23 and a 12 month high of $73.49. The firm’s fifty day simple moving average is $39.48 and its 200-day simple moving average is $42.54. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26.

Olympic Steel Dividend Announcement

The firm also recently declared 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. This represents a $0.60 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend is Monday, December 2nd. Olympic Steel’s payout ratio is 26.32%.

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.