Assenagon Asset Management S.A. Has $237,000 Position in Olympic Steel, Inc. (NASDAQ:ZEUS)

Assenagon Asset Management S.A. cut its stake in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 92.5% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,278 shares of the basic materials company’s stock after selling 65,410 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Olympic Steel were worth $237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ZEUS. EntryPoint Capital LLC bought a new stake in shares of Olympic Steel during the 1st quarter valued at approximately $61,000. AJOVista LLC bought a new stake in shares of Olympic Steel during the 4th quarter valued at approximately $75,000. Cornerstone Investment Partners LLC bought a new stake in shares of Olympic Steel during the 1st quarter valued at approximately $207,000. Louisiana State Employees Retirement System bought a new stake in shares of Olympic Steel during the 4th quarter valued at approximately $327,000. Finally, Harvest Investment Services LLC bought a new stake in shares of Olympic Steel during the 4th quarter valued at approximately $395,000. 87.07% of the stock is owned by institutional investors.

Olympic Steel Trading Up 3.8 %

ZEUS opened at $41.62 on Friday. Olympic Steel, Inc. has a fifty-two week low of $39.08 and a fifty-two week high of $73.49. The company has a debt-to-equity ratio of 0.37, a current ratio of 3.77 and a quick ratio of 1.43. The firm has a market capitalization of $463.23 million, a price-to-earnings ratio of 11.10 and a beta of 1.52. The company’s 50 day moving average price is $44.53 and its two-hundred day moving average price is $56.27.

Olympic Steel (NASDAQ:ZEUS) last posted its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The firm had revenue of $526.25 million for the quarter. During the same period in the previous year, the firm earned $1.24 earnings per share.

Olympic Steel Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Friday, August 30th. Olympic Steel’s payout ratio is 16.00%.

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 Monday, August 5th.

Olympic Steel 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.