Squarepoint Ops LLC Makes New Investment in Olympic Steel, Inc. (NASDAQ:ZEUS)

Squarepoint Ops LLC purchased a new position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,554 shares of the basic materials company's stock, valued at approximately $543,000. Squarepoint Ops LLC owned about 0.15% of Olympic Steel as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors 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 buying an additional 1,820 shares during the last quarter. 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 buying an additional 2,934 shares during the last quarter. 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 buying an additional 780 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 acquiring an additional 22,908 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in shares of Olympic Steel by 11.4% in the 4th 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. 87.07% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ZEUS has been the topic of a number of analyst reports. KeyCorp dropped 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 shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.

Olympic Steel Stock Performance

Shares of ZEUS stock traded up $0.15 during trading hours on Friday, reaching $31.61. The stock had a trading volume of 48,323 shares, compared to its average volume of 117,448. 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, Inc. has a twelve month low of $26.32 and a twelve month high of $51.66. The firm has a 50-day simple moving average of $31.05 and a 200-day simple moving average of $33.74. The firm has a market capitalization of $352.86 million, a PE ratio of 16.05 and a beta of 1.66.

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

Olympic Steel Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.02%. Olympic Steel's dividend payout ratio (DPR) is 44.76%.

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.