Verition Fund Management LLC Purchases New Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Verition Fund Management LLC acquired a new position in Olympic Steel, Inc. (NASDAQ:ZEUS) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,193 shares of the basic materials company’s stock, valued at approximately $632,000.

Several other large investors have also modified their holdings of ZEUS. nVerses Capital LLC purchased a new stake in shares of Olympic Steel in the third quarter worth approximately $27,000. Innealta Capital LLC purchased a new position in Olympic Steel during the 2nd quarter valued at $58,000. XTX Topco Ltd bought a new position in Olympic Steel in the 2nd quarter valued at $201,000. SG Americas Securities LLC purchased a new stake in Olympic Steel in the third quarter worth $245,000. Finally, Los Angeles Capital Management LLC lifted its position in shares of Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 1,500 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Price Performance

Shares of ZEUS stock opened at $42.12 on Wednesday. The company has a market capitalization of $468.92 million, a P/E ratio of 18.47 and a beta of 1.49. The company’s 50-day simple moving average is $39.62 and its two-hundred day simple moving average is $42.23. Olympic Steel, Inc. has a one year low of $32.23 and a one year high of $73.49. 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 Announces Dividend

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

Analyst Upgrades and Downgrades

Separately, StockNews.com cut shares of 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.