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

Jane Street Group LLC trimmed its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 85.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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.

Several other institutional investors and hedge funds have also recently modified their holdings of ZEUS. SG Americas Securities LLC lifted its position in shares of Olympic Steel by 29.0% in the 4th quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company's stock worth $266,000 after purchasing an additional 1,820 shares during the period. Exchange Traded Concepts LLC lifted its position in shares of Olympic Steel by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company's stock worth $893,000 after purchasing an additional 1,432 shares during the period. Empowered Funds LLC lifted its position in shares of Olympic Steel by 5.1% in the 4th quarter. Empowered Funds LLC now owns 60,805 shares of the basic materials company's stock worth $1,995,000 after purchasing an additional 2,934 shares during the period. Van ECK Associates Corp lifted its position in shares of Olympic Steel by 3.7% in the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock worth $724,000 after purchasing an additional 780 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of Olympic Steel by 23.1% in the 4th quarter. Bank of New York Mellon Corp now owns 122,269 shares of the basic materials company's stock worth $4,012,000 after purchasing an additional 22,908 shares during the period. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Trading Down 1.8%

NASDAQ:ZEUS opened at $30.59 on Friday. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $54.56. 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 simple moving average is $31.36 and its 200 day simple moving average is $34.49. The firm has a market capitalization of $341.48 million, a P/E ratio of 15.53 and a beta of 1.75.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. As a group, analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Monday, June 2nd. Olympic Steel's payout ratio is currently 44.76%.

Analyst Ratings Changes

ZEUS has been the subject of several research analyst reports. KeyCorp dropped their target price on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a research note 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.

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