Quest Partners LLC Increases Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Quest Partners LLC raised its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 488.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,411 shares of the basic materials company’s stock after purchasing an additional 12,792 shares during the quarter. Quest Partners LLC owned 0.14% of Olympic Steel worth $601,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ZEUS. nVerses Capital LLC bought a new stake in Olympic Steel during the third quarter valued at approximately $27,000. Innealta Capital LLC bought a new stake in shares of Olympic Steel during the 2nd quarter valued at $58,000. EntryPoint Capital LLC purchased a new stake in shares of Olympic Steel in the 1st quarter worth $61,000. XTX Topco Ltd bought a new position in Olympic Steel in the 2nd quarter worth $201,000. Finally, SG Americas Securities LLC purchased a new position in Olympic Steel during the third quarter valued at $245,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

ZEUS opened at $42.41 on Friday. The company has a 50 day simple moving average of $38.70 and a two-hundred day simple moving average of $43.40. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. The firm has a market cap of $472.02 million, a P/E ratio of 18.09 and a beta of 1.47. Olympic Steel, Inc. has a 1-year low of $32.23 and a 1-year high of $73.49.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.41%. The ex-dividend date is Monday, December 2nd. Olympic Steel’s dividend payout ratio is currently 26.32%.

Analysts Set New Price Targets

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