Massachusetts Financial Services Co. MA Sells 954 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Massachusetts Financial Services Co. MA lessened its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 2.4% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 39,347 shares of the basic materials company’s stock after selling 954 shares during the period. Massachusetts Financial Services Co. MA owned 0.35% of Olympic Steel worth $1,535,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. nVerses Capital LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at approximately $27,000. Innealta Capital LLC bought a new position in shares of Olympic Steel in the second quarter worth approximately $58,000. XTX Topco Ltd bought a new position in shares of Olympic Steel in the second quarter worth approximately $201,000. SG Americas Securities LLC purchased a new stake in shares of Olympic Steel in the third quarter worth $245,000. Finally, Los Angeles Capital Management LLC raised its position in shares of Olympic Steel by 28.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock valued at $263,000 after purchasing an additional 1,500 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Up 1.9 %

Shares of ZEUS opened at $42.31 on Thursday. The business’s 50 day moving average is $38.92 and its 200 day moving average is $43.03. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. The company has a market capitalization of $470.91 million, a PE ratio of 18.21 and a beta of 1.47.

Olympic Steel Announces Dividend

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

Analyst Upgrades and Downgrades

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

Olympic Steel 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.