Cubist Systematic Strategies LLC Sells 67,097 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Cubist Systematic Strategies LLC lowered its position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,707 shares of the basic materials company's stock after selling 67,097 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.35% of Olympic Steel worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Olympic Steel by 136.1% in the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock worth $8,365,000 after buying an additional 123,632 shares in the last quarter. Barclays PLC boosted its stake in Olympic Steel by 275.2% in the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock worth $606,000 after buying an additional 11,392 shares in the last quarter. Prudential Financial Inc. boosted its stake in Olympic Steel by 27.4% in the fourth quarter. Prudential Financial Inc. now owns 99,433 shares of the basic materials company's stock worth $3,262,000 after buying an additional 21,403 shares in the last quarter. Proficio Capital Partners LLC purchased a new stake in Olympic Steel in the fourth quarter worth approximately $493,000. Finally, SG Americas Securities LLC boosted its stake in Olympic Steel by 29.0% in the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock worth $266,000 after buying an additional 1,820 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Trading Up 0.9%

ZEUS stock traded up $0.29 during midday trading on Friday, hitting $32.02. The company had a trading volume of 55,561 shares, compared to its average volume of 118,561. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $56.10. The stock's 50 day moving average price is $31.43 and its 200 day moving average price is $34.60. The stock has a market cap of $357.44 million, a price-to-earnings ratio of 16.25 and a beta of 1.75.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.21 earnings per share for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $492.94 million during the quarter, compared to the consensus estimate of $466.80 million. As a group, equities research analysts expect that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be issued a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.00%. Olympic Steel's dividend payout ratio is presently 44.76%.

Analysts Set New Price Targets

Several brokerages have weighed in on ZEUS. KeyCorp lowered their price objective on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. StockNews.com downgraded Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

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.