Victory Capital Management Inc. Boosts Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Victory Capital Management Inc. grew its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 127.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,989 shares of the basic materials company’s stock after buying an additional 7,266 shares during the period. Victory Capital Management Inc.’s holdings in Olympic Steel were worth $507,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. boosted 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 worth $2,306,000 after purchasing an additional 53,857 shares during the period. Renaissance Technologies LLC boosted its position in shares of Olympic Steel by 62.0% during 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. American Century Companies Inc. boosted its position in shares of Olympic Steel by 10.7% during the 2nd quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after purchasing an additional 27,123 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Olympic Steel by 21.6% during the 2nd 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 period. Finally, Unison Advisors LLC purchased a new position in shares of Olympic Steel during the 3rd quarter worth approximately $729,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analyst Weigh In

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

Olympic Steel Price Performance

Olympic Steel stock opened at $42.28 on Friday. The firm has a market cap of $470.58 million, a PE ratio of 18.56 and a beta of 1.47. Olympic Steel, Inc. has a 52-week low of $32.23 and a 52-week high of $73.49. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. The company’s 50 day moving average is $39.05 and its two-hundred day moving average is $43.02.

Olympic Steel Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders 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 dividend on an annualized basis and a yield of 1.42%. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.

Olympic Steel Company 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.