Assenagon Asset Management S.A. Sells 65,410 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Assenagon Asset Management S.A. lessened its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 92.5% in the second quarter, Holdings Channel.com reports. The firm owned 5,278 shares of the basic materials company’s stock after selling 65,410 shares during the period. Assenagon Asset Management S.A.’s holdings in Olympic Steel were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in Olympic Steel by 0.6% during the first quarter. Janney Montgomery Scott LLC now owns 28,710 shares of the basic materials company’s stock worth $2,035,000 after purchasing an additional 181 shares during the period. SummerHaven Investment Management LLC boosted its position in Olympic Steel by 1.3% during the fourth quarter. SummerHaven Investment Management LLC now owns 14,036 shares of the basic materials company’s stock worth $936,000 after purchasing an additional 184 shares during the period. Illinois Municipal Retirement Fund boosted its position in Olympic Steel by 3.3% during the first quarter. Illinois Municipal Retirement Fund now owns 6,134 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 197 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Olympic Steel by 5.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 9,903 shares of the basic materials company’s stock worth $702,000 after buying an additional 471 shares in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in shares of Olympic Steel in the first quarter worth about $61,000. 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 report on Monday, August 5th.

Olympic Steel Trading Up 3.8 %

Shares of Olympic Steel stock opened at $41.62 on Friday. Olympic Steel, Inc. has a 12-month low of $39.08 and a 12-month high of $73.49. The company has a market cap of $463.23 million, a price-to-earnings ratio of 11.10 and a beta of 1.52. The company has a current ratio of 3.77, a quick ratio of 1.43 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $44.53 and its 200-day moving average price is $56.27.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The firm had revenue of $526.25 million for the quarter. During the same period in the previous year, the company posted $1.24 earnings per share.

Olympic Steel Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Friday, August 30th. Olympic Steel’s dividend payout ratio is currently 16.00%.

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.