Cubist Systematic Strategies LLC Sells 16,203 Shares of Olympic Steel, Inc. $ZEUS

Key Points

• Cubist Systematic Strategies LLC has reduced its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 41.9%, now holding approximately 22,504 shares worth $709,000.
• Several institutional investors increased their positions in Olympic Steel, with Versant Capital Management growing its stake by 178.7% in the first quarter.
• Olympic Steel reported an earnings miss with $0.50 EPS for the quarter, falling short of the consensus estimate of $0.59, and announced a quarterly dividend of $0.16 per share.

Cubist Systematic Strategies LLC reduced its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 41.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,504 shares of the basic materials company's stock after selling 16,203 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.20% of Olympic Steel worth $709,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. SummerHaven Investment Management LLC increased its holdings in Olympic Steel by 2.2% in the 1st quarter. SummerHaven Investment Management LLC now owns 19,059 shares of the basic materials company's stock worth $601,000 after buying an additional 417 shares in the last quarter. Versant Capital Management Inc increased its holdings in Olympic Steel by 178.7% in the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock worth $29,000 after buying an additional 586 shares in the last quarter. New Age Alpha Advisors LLC increased its holdings in Olympic Steel by 33.6% in the 1st quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company's stock worth $76,000 after buying an additional 605 shares in the last quarter. Quantbot Technologies LP increased its holdings in Olympic Steel by 20.1% in the 1st quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock worth $156,000 after buying an additional 830 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its holdings in Olympic Steel by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock worth $456,000 after buying an additional 839 shares in the last quarter. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Stock Performance

ZEUS stock traded down $0.93 during trading on Friday, reaching $32.87. The stock had a trading volume of 50,412 shares, compared to its average volume of 51,524. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $43.60. The stock's 50 day moving average is $32.94 and its two-hundred day moving average is $32.02. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40. The firm has a market cap of $368.14 million, a PE ratio of 26.94 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.59 by ($0.09). Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%.The company had revenue of $496.48 million during the quarter, compared to the consensus estimate of $506.60 million. As a group, equities analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Tuesday, September 2nd will be paid a $0.16 dividend. The ex-dividend date of this dividend is Tuesday, September 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.9%. Olympic Steel's dividend payout ratio (DPR) is 52.46%.

Wall Street Analyst Weigh In

ZEUS has been the subject of several research analyst reports. Wall Street Zen downgraded Olympic Steel from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. KeyCorp reduced their price objective on Olympic Steel from $40.00 to $38.00 and set an "overweight" rating for the company in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Olympic Steel presently has an average rating of "Buy" and a consensus target price of $38.00.

Olympic Steel 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.