Two Sigma Investments LP Sells 17,888 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Two Sigma Investments LP lowered its stake in Olympic Steel, Inc. (NASDAQ:ZEUS) by 50.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,867 shares of the basic materials company’s stock after selling 17,888 shares during the period. Two Sigma Investments LP’s holdings in Olympic Steel were worth $586,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. New Age Alpha Advisors LLC bought a new position in Olympic Steel in the fourth quarter valued at approximately $59,000. Magnetar Financial LLC bought a new stake in shares of Olympic Steel in the fourth quarter worth $216,000. Los Angeles Capital Management LLC lifted its position in shares of Olympic Steel by 11.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock worth $247,000 after purchasing an additional 770 shares in the last quarter. State of Wyoming lifted its position in shares of Olympic Steel by 17.6% in the fourth quarter. State of Wyoming now owns 8,236 shares of the basic materials company’s stock worth $270,000 after purchasing an additional 1,233 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Olympic Steel by 16.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,090 shares of the basic materials company’s stock worth $298,000 after purchasing an additional 1,257 shares in the last quarter. Institutional investors own 87.07% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ZEUS shares. KeyCorp cut their price objective on shares of Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen lowered shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, March 1st.

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $31.61 on Monday. 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’s fifty day moving average price is $31.05 and its two-hundred day moving average price is $33.69. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $51.66. The firm has a market capitalization of $352.86 million, a P/E ratio of 16.05 and a beta of 1.66.

Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.24 by ($0.03). Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. The firm had revenue of $492.94 million for the quarter, compared to the consensus estimate of $466.80 million. As a group, research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Monday, June 2nd. Olympic Steel’s payout ratio is presently 44.76%.

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.