Walleye Capital LLC Makes New $3.98 Million Investment in Olympic Steel, Inc. (NASDAQ:ZEUS)

Walleye Capital LLC bought a new stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 101,999 shares of the basic materials company’s stock, valued at approximately $3,978,000.

Other institutional investors have also recently made changes to their positions in the company. SummerHaven Investment Management LLC lifted its position in Olympic Steel by 2.1% during the second quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock valued at $649,000 after purchasing an additional 292 shares during the period. ClariVest Asset Management LLC boosted its stake in shares of Olympic Steel by 2.9% in the 2nd 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 last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Olympic Steel by 5.0% in the 1st 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 during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Olympic Steel by 2.0% in the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock worth $1,175,000 after acquiring an additional 578 shares during the period. Finally, nVerses Capital LLC bought a new stake in shares of Olympic Steel in the third quarter worth $27,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Performance

Shares of NASDAQ ZEUS opened at $42.28 on Monday. The firm has a 50 day moving average of $39.14 and a 200 day moving average of $42.81. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $470.58 million, a price-to-earnings ratio of 18.54 and a beta of 1.47. Olympic Steel, Inc. has a 12-month low of $32.23 and a 12-month high of $73.49.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Monday, December 2nd. Olympic Steel’s payout ratio is 26.32%.

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.