DRW Securities LLC Invests $302,000 in Olympic Steel, Inc. (NASDAQ:ZEUS)

DRW Securities LLC purchased a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) during the third quarter, Holdings Channel reports. The firm purchased 7,743 shares of the basic materials company’s stock, valued at approximately $302,000.

Several other hedge funds have also recently bought and sold shares of the stock. SummerHaven Investment Management LLC grew its position in Olympic Steel by 2.1% during the 2nd quarter. SummerHaven Investment Management LLC now owns 14,472 shares of the basic materials company’s stock worth $649,000 after acquiring an additional 292 shares during the last quarter. ClariVest Asset Management LLC raised its holdings in shares of Olympic Steel by 2.9% in the second quarter. ClariVest Asset Management LLC now owns 13,921 shares of the basic materials company’s stock valued at $624,000 after buying an additional 390 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Olympic Steel by 5.0% during 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 in the last quarter. Janney Montgomery Scott LLC grew its holdings in Olympic Steel by 2.0% during the 3rd 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 last quarter. Finally, nVerses Capital LLC acquired a new stake in Olympic Steel in the 3rd quarter valued at about $27,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Olympic Steel Price Performance

Olympic Steel stock opened at $42.31 on Thursday. The stock has a market cap of $470.91 million, a price-to-earnings ratio of 18.56 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. 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 business’s 50-day simple moving average is $38.92 and its 200 day simple moving average is $43.03.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.15 dividend. The ex-dividend date is Monday, December 2nd. This represents a $0.60 annualized dividend and a yield of 1.42%. Olympic Steel’s dividend payout ratio is currently 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.