Quantbot Technologies LP Sells 4,470 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Quantbot Technologies LP cut its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 52.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,124 shares of the basic materials company’s stock after selling 4,470 shares during the quarter. Quantbot Technologies LP’s holdings in Olympic Steel were worth $135,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Point72 DIFC Ltd bought a new position in shares of Olympic Steel during the 3rd quarter worth approximately $184,000. HighTower Advisors LLC bought a new stake in Olympic Steel during the 3rd quarter worth about $202,000. Magnetar Financial LLC acquired a new position in shares of Olympic Steel during the 4th quarter worth about $216,000. Los Angeles Capital Management LLC grew its holdings in shares of Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after acquiring an additional 770 shares in the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Olympic Steel by 29.0% in the fourth quarter. SG Americas Securities LLC now owns 8,103 shares of the basic materials company’s stock valued at $266,000 after acquiring an additional 1,820 shares during the last quarter. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of NASDAQ ZEUS opened at $31.61 on Monday. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average price is $33.94 and its two-hundred day moving average price is $36.45. The company has a market cap of $352.01 million, a PE ratio of 16.05 and a beta of 1.48. Olympic Steel, Inc. has a twelve month low of $30.29 and a twelve month high of $73.27.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.05. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The business had revenue of $418.78 million during the quarter, compared to the consensus estimate of $441.60 million. On average, analysts predict that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Monday, March 3rd were paid a $0.16 dividend. The ex-dividend date of this dividend was Monday, March 3rd. This represents a $0.64 dividend on an annualized basis and a yield of 2.02%. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. Olympic Steel’s dividend payout ratio is 32.49%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. KeyCorp raised their price target on Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research note on Monday, February 24th. StockNews.com downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, March 1st.

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.