Two Sigma Investments LP Trims Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Two Sigma Investments LP cut its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 50.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 17,867 shares of the basic materials company's stock after selling 17,888 shares during the period. Two Sigma Investments LP owned about 0.16% of Olympic Steel worth $586,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. State of Wyoming boosted its holdings in shares of Olympic Steel by 17.6% in the 4th quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock worth $270,000 after purchasing an additional 1,233 shares in the last quarter. Man Group plc purchased a new position in shares of Olympic Steel during the 4th quarter valued at about $1,097,000. Nuveen Asset Management LLC lifted its position in Olympic Steel by 5.7% in the 4th quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company's stock worth $5,692,000 after buying an additional 9,316 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in Olympic Steel by 34.4% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 165,040 shares of the basic materials company's stock worth $5,415,000 after buying an additional 42,267 shares in the last quarter. Finally, Ethic Inc. grew its position in Olympic Steel by 40.3% during the fourth quarter. Ethic Inc. now owns 15,792 shares of the basic materials company's stock valued at $518,000 after acquiring an additional 4,540 shares during the last quarter. Institutional investors own 87.07% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on ZEUS shares. Wall Street Zen lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st. KeyCorp lowered their price target on shares of Olympic Steel from $43.00 to $41.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th.

Olympic Steel Trading Down 0.1%

ZEUS stock traded down $0.04 during midday trading on Thursday, hitting $31.10. The company had a trading volume of 50,116 shares, compared to its average volume of 116,839. The stock has a market cap of $347.17 million, a price-to-earnings ratio of 15.79 and a beta of 1.66. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $51.66. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The stock's 50 day moving average price is $31.16 and its 200 day moving average price is $33.59.

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

Olympic Steel Dividend Announcement

The firm 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. This represents a $0.64 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date is Monday, June 2nd. Olympic Steel's payout ratio is 44.76%.

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.