Olympic Steel, Inc. (NASDAQ:ZEUS) Stake Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 87.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,474 shares of the basic materials company’s stock after selling 51,661 shares during the period. Assenagon Asset Management S.A. owned 0.07% of Olympic Steel worth $245,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new position in shares of Olympic Steel in the 3rd quarter worth approximately $27,000. Point72 DIFC Ltd bought a new stake in Olympic Steel during the third quarter worth approximately $184,000. XTX Topco Ltd acquired a new position in Olympic Steel in the second quarter worth approximately $201,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel in the third quarter valued at $202,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Olympic Steel during the 3rd quarter valued at $245,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Trading Up 2.3 %

Shares of Olympic Steel stock opened at $35.40 on Friday. Olympic Steel, Inc. has a 1 year low of $30.29 and a 1 year high of $73.49. The company’s fifty day simple moving average is $36.76 and its 200-day simple moving average is $39.33. The company has a market cap of $394.00 million, a price-to-earnings ratio of 15.53 and a beta of 1.53. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, October 31st. The basic materials company reported $0.11 earnings per share for the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%. The business had revenue of $470.00 million for the quarter. As a group, sell-side analysts expect that Olympic Steel, Inc. will post 1.55 EPS for the current year.

Olympic Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.69%. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ZEUS shares. KeyCorp upgraded shares of Olympic Steel from a “sector weight” rating to an “overweight” rating and set a $42.00 price target for the company in a research report on Wednesday. StockNews.com lowered 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.