Two Sigma Investments LP Sells 17,888 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Two Sigma Investments LP trimmed its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 50.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. New Age Alpha Advisors LLC bought a new position in Olympic Steel during the 4th quarter worth about $59,000. Magnetar Financial LLC acquired a new position in shares of Olympic Steel during the fourth quarter worth about $216,000. Los Angeles Capital Management LLC grew its holdings in shares of Olympic Steel by 11.4% during 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 in the last quarter. State of Wyoming grew its holdings in shares of Olympic Steel by 17.6% during the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company's stock worth $270,000 after buying an additional 1,233 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Olympic Steel by 16.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company's stock valued at $298,000 after buying an additional 1,257 shares during the last quarter. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ZEUS has been the subject of a number of recent research reports. KeyCorp reduced their price target on 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.

Olympic Steel Stock Performance

NASDAQ ZEUS traded up $0.23 during trading on Monday, reaching $31.84. 56,029 shares of the company's stock were exchanged, compared to its average volume of 117,379. 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 business has a 50 day moving average price of $31.05 and a 200-day moving average price of $33.69. The stock has a market capitalization of $355.43 million, a P/E ratio of 16.16 and a beta of 1.66. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $51.66.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted 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 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 analyst estimates of $466.80 million. Sell-side analysts forecast that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Monday, June 2nd. Olympic Steel's payout ratio is presently 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.