Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by ExodusPoint Capital Management LP

ExodusPoint Capital Management LP cut its stake in Olympic Steel, Inc. (NASDAQ:ZEUS - Free Report) by 56.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,543 shares of the basic materials company's stock after selling 27,872 shares during the period. ExodusPoint Capital Management LP owned 0.19% of Olympic Steel worth $707,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. FMR LLC increased its position in shares of Olympic Steel by 423.4% in the 3rd quarter. FMR LLC now owns 44,496 shares of the basic materials company's stock valued at $1,735,000 after acquiring an additional 35,995 shares during the period. HighTower Advisors LLC purchased a new position in shares of Olympic Steel in the third quarter worth about $202,000. Jane Street Group LLC lifted its holdings in shares of Olympic Steel by 1,165.8% during the third quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company's stock worth $7,884,000 after purchasing an additional 186,192 shares during the period. Barclays PLC boosted its position in Olympic Steel by 275.2% in the third quarter. Barclays PLC now owns 15,532 shares of the basic materials company's stock valued at $606,000 after buying an additional 11,392 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its position in Olympic Steel by 136.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company's stock worth $8,365,000 after buying an additional 123,632 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Stock Performance

Shares of ZEUS traded down $0.31 during trading hours on Thursday, hitting $29.96. The stock had a trading volume of 8,951 shares, compared to its average volume of 117,823. The firm has a market capitalization of $334.39 million, a price-to-earnings ratio of 15.20 and a beta of 1.50. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The firm has a 50-day moving average price of $32.48 and a 200 day moving average price of $35.60. Olympic Steel, Inc. has a fifty-two week low of $26.32 and a fifty-two week high of $69.79.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The business had revenue of $418.78 million for the quarter, compared to analyst estimates of $441.60 million. As a group, research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 17th. Stockholders of record on Monday, March 3rd were given a dividend of $0.16 per share. This is a positive change from Olympic Steel's previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.14%. Olympic Steel's dividend payout ratio (DPR) is 32.49%.

Analysts Set New Price Targets

ZEUS has been the topic of a number of research reports. KeyCorp increased their price objective on shares of Olympic Steel from $42.00 to $43.00 and gave the stock an "overweight" rating in a research note on Monday, February 24th. StockNews.com cut Olympic Steel from a "buy" rating to a "hold" rating in a report on Saturday, March 1st.

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.