Jane Street Group LLC Reduces Stake in Olympic Steel, Inc. (NASDAQ:ZEUS)

Jane Street Group LLC reduced its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 85.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,709 shares of the basic materials company's stock after selling 173,454 shares during the period. Jane Street Group LLC owned 0.26% of Olympic Steel worth $942,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC grew its position in Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock worth $247,000 after acquiring an additional 770 shares during the period. Van ECK Associates Corp boosted its position in shares of Olympic Steel by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock worth $724,000 after buying an additional 780 shares during the period. Price T Rowe Associates Inc. MD boosted its holdings in Olympic Steel by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock valued at $456,000 after acquiring an additional 839 shares during the period. Sei Investments Co. grew its holdings in shares of Olympic Steel by 1.4% in the fourth quarter. Sei Investments Co. now owns 65,127 shares of the basic materials company's stock valued at $2,137,000 after purchasing an additional 919 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of Olympic Steel by 16.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock worth $298,000 after acquiring an additional 1,257 shares during the period. Institutional investors and hedge funds own 87.07% of the company's stock.

Olympic Steel Stock Performance

Shares of ZEUS stock traded down $0.77 during trading hours on Wednesday, reaching $30.52. 48,962 shares of the company's stock were exchanged, compared to its average volume of 117,956. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The company's 50 day moving average is $31.20 and its two-hundred day moving average is $34.22. The company has a market cap of $340.69 million, a P/E ratio of 15.49 and a beta of 1.75. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $52.74.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its earnings results on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The company had revenue of $492.94 million for the quarter, compared to analysts' expectations of $466.80 million. Equities research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.16 per share. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $0.64 annualized dividend and a yield of 2.10%. Olympic Steel's payout ratio is currently 44.76%.

Analyst Upgrades and Downgrades

ZEUS has been the topic of a number of analyst reports. KeyCorp reduced their price objective on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research report on Saturday, March 1st.

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.