Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Acquired by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 2.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 25,374 shares of the basic materials company’s stock after purchasing an additional 705 shares during the period. Wedge Capital Management L L P NC’s holdings in Olympic Steel were worth $833,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. nVerses Capital LLC purchased a new position in shares of Olympic Steel during the third quarter worth about $27,000. Point72 DIFC Ltd purchased a new position in shares of Olympic Steel during the third quarter worth about $184,000. XTX Topco Ltd purchased a new position in shares of Olympic Steel during the second quarter worth about $201,000. HighTower Advisors LLC purchased a new position in shares of Olympic Steel during the third quarter worth about $202,000. Finally, SG Americas Securities LLC purchased a new position in shares of Olympic Steel during the third quarter worth about $245,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $33.72 on Tuesday. Olympic Steel, Inc. has a 52-week low of $30.29 and a 52-week high of $73.49. The business’s 50-day moving average price is $37.18 and its 200 day moving average price is $39.51. The firm has a market cap of $375.30 million, a P/E ratio of 14.79 and a beta of 1.53. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date was Monday, December 2nd. Olympic Steel’s dividend payout ratio is presently 26.32%.

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.