New York State Teachers Retirement System Sells 21,833 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

New York State Teachers Retirement System cut its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 95.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 940 shares of the basic materials company’s stock after selling 21,833 shares during the quarter. New York State Teachers Retirement System’s holdings in Olympic Steel were worth $37,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. nVerses Capital LLC acquired a new stake in shares of Olympic Steel in the third quarter valued at about $27,000. Innealta Capital LLC acquired a new stake in shares of Olympic Steel in the second quarter valued at about $58,000. EntryPoint Capital LLC acquired a new stake in Olympic Steel during the first quarter worth approximately $61,000. XTX Topco Ltd acquired a new stake in Olympic Steel during the second quarter worth approximately $201,000. Finally, SG Americas Securities LLC acquired a new stake in Olympic Steel during the third quarter worth approximately $245,000. 87.07% of the stock is currently owned by institutional investors.

Olympic Steel Trading Up 3.0 %

NASDAQ ZEUS opened at $42.15 on Tuesday. The business has a 50 day simple moving average of $38.23 and a 200 day simple moving average of $44.45. Olympic Steel, Inc. has a one year low of $32.23 and a one year high of $73.49. The stock has a market capitalization of $469.26 million, a P/E ratio of 18.49 and a beta of 1.47. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.15 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.42%. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.

Analyst Upgrades and Downgrades

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

Olympic Steel Company 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.