Point72 Asia Singapore Pte. Ltd. Makes New $515,000 Investment in Olympic Steel, Inc. (NASDAQ:ZEUS)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in Olympic Steel, Inc. (NASDAQ:ZEUS) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 13,217 shares of the basic materials company’s stock, valued at approximately $515,000. Point72 Asia Singapore Pte. Ltd. owned 0.12% of Olympic Steel as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ZEUS. nVerses Capital LLC acquired a new stake in Olympic Steel in the third quarter valued at approximately $27,000. Innealta Capital LLC purchased a new stake in shares of Olympic Steel in the 2nd quarter valued at approximately $58,000. XTX Topco Ltd acquired a new stake in shares of Olympic Steel in the 2nd quarter valued at $201,000. SG Americas Securities LLC purchased a new stake in shares of Olympic Steel during the 3rd quarter worth $245,000. Finally, Los Angeles Capital Management LLC grew its stake in shares of Olympic Steel by 28.6% during the third quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after purchasing an additional 1,500 shares in the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Stock Performance

Shares of ZEUS opened at $42.83 on Tuesday. The company has a quick ratio of 1.26, a current ratio of 3.52 and a debt-to-equity ratio of 0.35. Olympic Steel, Inc. has a 52-week low of $32.23 and a 52-week high of $73.49. The stock has a 50 day moving average price of $39.24 and a 200 day moving average price of $42.72. The company has a market capitalization of $476.70 million, a price-to-earnings ratio of 18.79 and a beta of 1.49.

Olympic Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.60 annualized dividend and a yield of 1.40%. Olympic Steel’s dividend payout ratio is currently 26.32%.

Analyst Ratings Changes

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

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.