Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC cut its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 232,315 shares of the basic materials company’s stock after selling 13,636 shares during the quarter. Geode Capital Management LLC’s holdings in Olympic Steel were worth $9,062,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in 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 valued at $6,358,000 after acquiring an additional 25,201 shares during the period. Versor Investments LP purchased a new position in shares of Olympic Steel in the 2nd quarter valued at about $318,000. Rhumbline Advisers lifted its stake in shares of Olympic Steel by 4.7% in the second quarter. Rhumbline Advisers now owns 32,436 shares of the basic materials company’s stock valued at $1,454,000 after purchasing an additional 1,469 shares during the period. Texas Permanent School Fund Corp boosted its holdings in Olympic Steel by 9.5% during the second quarter. Texas Permanent School Fund Corp now owns 9,387 shares of the basic materials company’s stock worth $421,000 after buying an additional 813 shares in the last quarter. Finally, ClariVest Asset Management LLC grew its position in Olympic Steel by 2.9% during the second quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock worth $624,000 after buying an additional 390 shares during the period. Institutional investors and hedge funds own 87.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Olympic Steel Stock Performance

Shares of ZEUS stock opened at $32.81 on Thursday. The stock has a fifty day moving average price of $38.62 and a 200 day moving average price of $40.68. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The stock has a market cap of $365.27 million, a PE ratio of 14.39 and a beta of 1.49. Olympic Steel, Inc. has a 1 year low of $31.50 and a 1 year high of $73.49.

Olympic Steel Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Monday, December 2nd were paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Monday, December 2nd. 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.