BNP Paribas Financial Markets Buys 11,224 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

BNP Paribas Financial Markets increased its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 103.4% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 22,081 shares of the basic materials company’s stock after buying an additional 11,224 shares during the period. BNP Paribas Financial Markets’ holdings in Olympic Steel were worth $861,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Bank of New York Mellon Corp grew its stake in shares of Olympic Steel by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after purchasing an additional 25,201 shares during the last quarter. Quest Partners LLC boosted its holdings in Olympic Steel by 488.4% in the 3rd quarter. Quest Partners LLC now owns 15,411 shares of the basic materials company’s stock worth $601,000 after buying an additional 12,792 shares during the period. Unison Advisors LLC bought a new position in shares of Olympic Steel during the 3rd quarter valued at about $729,000. Assenagon Asset Management S.A. raised its position in shares of Olympic Steel by 1,020.4% during the 3rd quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company’s stock valued at $2,306,000 after buying an additional 53,857 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in Olympic Steel by 62.0% in the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock worth $4,429,000 after purchasing an additional 37,798 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Analyst Upgrades and Downgrades

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

Olympic Steel Trading Down 0.9 %

NASDAQ ZEUS opened at $41.74 on Thursday. The company has a fifty day simple moving average of $39.68 and a two-hundred day simple moving average of $42.22. The stock has a market cap of $464.69 million, a P/E ratio of 18.31 and a beta of 1.49. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49. 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 Announces Dividend

The firm 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 dividend of $0.15 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.60 annualized dividend and a dividend yield of 1.44%. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.

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.