Olympic Steel, Inc. (NASDAQ:ZEUS) Shares Bought by Jane Street Group LLC

Jane Street Group LLC grew its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 1,165.8% in the third quarter, Holdings Channel.com reports. The fund owned 202,163 shares of the basic materials company’s stock after purchasing an additional 186,192 shares during the period. Jane Street Group LLC’s holdings in Olympic Steel were worth $7,884,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of ZEUS. nVerses Capital LLC acquired a new stake in Olympic Steel in the 3rd quarter valued at about $27,000. Innealta Capital LLC purchased a new stake in Olympic Steel in the 2nd quarter valued at approximately $58,000. Point72 DIFC Ltd acquired a new stake in Olympic Steel during the 3rd quarter valued at $184,000. XTX Topco Ltd purchased a new position in Olympic Steel during the second quarter worth $201,000. Finally, HighTower Advisors LLC acquired a new position in shares of Olympic Steel in the third quarter worth $202,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Analysts Set New Price Targets

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

Olympic Steel Stock Performance

Shares of ZEUS opened at $39.67 on Friday. Olympic Steel, Inc. has a 1 year low of $32.23 and a 1 year high of $73.49. The company’s 50 day simple moving average is $39.76 and its 200 day simple moving average is $42.12. The company has a market capitalization of $441.53 million, a price-to-earnings ratio of 17.40 and a beta of 1.49. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52.

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 issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Monday, December 2nd. Olympic Steel’s dividend payout ratio (DPR) is 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.