Royce & Associates LP Purchases 7,253 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Royce & Associates LP increased its holdings in Olympic Steel, Inc. (NASDAQ:ZEUS) by 17.3% during the 3rd quarter, HoldingsChannel reports. The firm owned 49,196 shares of the basic materials company’s stock after buying an additional 7,253 shares during the period. Royce & Associates LP’s holdings in Olympic Steel were worth $1,919,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp increased its holdings in shares of Olympic Steel by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after buying an additional 25,201 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of Olympic Steel by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock worth $48,306,000 after purchasing an additional 12,242 shares during the period. Unison Advisors LLC bought a new stake in Olympic Steel in the third quarter worth $729,000. Assenagon Asset Management S.A. boosted its stake in Olympic Steel by 1,020.4% during the third quarter. Assenagon Asset Management S.A. now owns 59,135 shares of the basic materials company’s stock worth $2,306,000 after buying an additional 53,857 shares during the period. Finally, Renaissance Technologies LLC increased its position in Olympic Steel by 62.0% during the second quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock valued at $4,429,000 after acquiring an additional 37,798 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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 Trading Down 2.7 %

ZEUS opened at $39.17 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The stock’s 50 day moving average price is $38.58 and its 200-day moving average price is $43.44. Olympic Steel, Inc. has a one year low of $32.23 and a one year high of $73.49. The stock has a market cap of $435.96 million, a price-to-earnings ratio of 17.18 and a beta of 1.47.

Olympic Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Monday, December 2nd will be paid a $0.15 dividend. The ex-dividend date of this dividend is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.53%. Olympic Steel’s payout ratio 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.