JPMorgan Chase & Co. Acquires 123,632 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

JPMorgan Chase & Co. increased its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 136.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 214,493 shares of the basic materials company’s stock after acquiring an additional 123,632 shares during the quarter. JPMorgan Chase & Co. owned about 1.93% of Olympic Steel worth $8,365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ZEUS. nVerses Capital LLC bought a new position in shares of Olympic Steel in the 3rd quarter worth about $27,000. Point72 DIFC Ltd bought a new position in shares of Olympic Steel in the 3rd quarter worth about $184,000. XTX Topco Ltd bought a new position in shares of Olympic Steel in the 2nd quarter worth about $201,000. HighTower Advisors LLC bought a new position in shares of Olympic Steel in the 3rd quarter worth about $202,000. Finally, SG Americas Securities LLC purchased a new stake in Olympic Steel during the 3rd quarter valued at about $245,000. 87.07% of the stock is currently owned by institutional investors.

Olympic Steel Stock Performance

Shares of ZEUS stock opened at $32.50 on Tuesday. Olympic Steel, Inc. has a one year low of $30.29 and a one year high of $73.49. The company’s 50-day moving average is $37.94 and its 200 day moving average is $39.96. The company has a market capitalization of $361.82 million, a price-to-earnings ratio of 14.25 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Investors of record on Monday, December 2nd were given a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 1.85%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s dividend payout ratio (DPR) is 26.32%.

Analysts Set New Price Targets

Separately, StockNews.com downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research 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.