HighTower Advisors LLC Buys Shares of 5,245 Olympic Steel, Inc. (NASDAQ:ZEUS)

HighTower Advisors LLC acquired a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,245 shares of the basic materials company’s stock, valued at approximately $202,000.

A number of other large investors also recently made changes to their positions in the business. Walleye Capital LLC acquired a new stake in shares of Olympic Steel in the third quarter worth $3,978,000. Bank of New York Mellon Corp raised its holdings in shares of Olympic Steel by 21.6% during the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after purchasing an additional 25,201 shares during the period. Quest Partners LLC increased its position in Olympic Steel by 488.4% in the 3rd quarter. Quest Partners LLC now owns 15,411 shares of the basic materials company’s stock valued at $601,000 after acquiring an additional 12,792 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Olympic Steel during the third quarter valued at about $515,000. Finally, Unison Advisors LLC bought a new stake in shares of Olympic Steel during the 3rd quarter worth about $729,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

NASDAQ:ZEUS opened at $33.52 on Thursday. 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 firm has a market capitalization of $373.18 million, a PE ratio of 14.70 and a beta of 1.49. The firm’s fifty day simple moving average is $39.28 and its 200 day simple moving average is $41.25. Olympic Steel, Inc. has a 1 year low of $32.23 and a 1 year high of $73.49.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were paid a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.79%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s payout ratio is presently 26.32%.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Friday, October 25th.

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.