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

Squarepoint Ops LLC acquired a new position in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 16,554 shares of the basic materials company's stock, valued at approximately $543,000. Squarepoint Ops LLC owned 0.15% of Olympic Steel at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. New Age Alpha Advisors LLC purchased a new position in Olympic Steel in the 4th quarter worth approximately $59,000. Magnetar Financial LLC bought a new position in shares of Olympic Steel in the fourth quarter worth approximately $216,000. Los Angeles Capital Management LLC increased its stake in shares of 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 buying an additional 770 shares during the period. SG Americas Securities LLC increased its stake in shares of 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 during the period. Finally, State of Wyoming boosted its position in Olympic Steel by 17.6% during the 4th quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock valued at $270,000 after buying an additional 1,233 shares during the period. Institutional investors own 87.07% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ZEUS shares. Wall Street Zen cut Olympic Steel from a "buy" rating to a "hold" rating in a research note on Saturday, March 1st. KeyCorp cut their price objective on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th.

Olympic Steel Trading Down 1.3%

Olympic Steel stock traded down $0.40 during mid-day trading on Thursday, reaching $31.46. 71,669 shares of the company traded hands, compared to its average volume of 117,543. 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 52-week low of $26.32 and a 52-week high of $51.66. The firm has a market capitalization of $351.19 million, a price-to-earnings ratio of 15.97 and a beta of 1.75. The firm's 50 day moving average price is $31.05 and its 200 day moving average price is $33.90.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its earnings results 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 net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. On average, analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Shareholders 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 2.03%. Olympic Steel's dividend payout ratio (DPR) is 44.76%.

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.