Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 11.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,850 shares of the basic materials company’s stock after selling 1,387 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.10% of Olympic Steel worth $423,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new position in Olympic Steel during the 3rd quarter worth approximately $27,000. Innealta Capital LLC acquired a new stake in Olympic Steel in the 2nd quarter worth about $58,000. XTX Topco Ltd purchased a new stake in shares of Olympic Steel during the 2nd quarter worth about $201,000. SG Americas Securities LLC acquired a new position in shares of Olympic Steel during the third quarter worth about $245,000. Finally, Los Angeles Capital Management LLC lifted its position in Olympic Steel by 28.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 1,500 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Price Performance

Shares of NASDAQ:ZEUS opened at $33.81 on Friday. The firm has a 50-day simple moving average of $39.50 and a 200 day simple moving average of $41.59. The company has a market cap of $376.41 million, a PE ratio of 14.83 and a beta of 1.49. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a fifty-two week low of $32.23 and a fifty-two week high of $73.49.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s dividend payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, October 25th.

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.