Janney Montgomery Scott LLC Raises Stock Holdings in Olympic Steel, Inc. (NASDAQ:ZEUS)

Janney Montgomery Scott LLC raised its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,120 shares of the basic materials company’s stock after buying an additional 578 shares during the quarter. Janney Montgomery Scott LLC owned approximately 0.27% of Olympic Steel worth $1,175,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ZEUS. Assenagon Asset Management S.A. raised its stake in shares of 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 purchasing an additional 53,857 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Olympic Steel by 62.0% during the second quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock worth $4,429,000 after purchasing an additional 37,798 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Olympic Steel by 10.7% during the second quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after purchasing an additional 27,123 shares during the last quarter. Bank of New York Mellon Corp raised its position in Olympic Steel by 21.6% in the second quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock worth $6,358,000 after acquiring an additional 25,201 shares in the last quarter. Finally, Unison Advisors LLC purchased a new position in Olympic Steel in the third quarter worth $729,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Up 1.8 %

ZEUS opened at $39.64 on Friday. 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 firm has a market cap of $441.31 million, a P/E ratio of 17.39 and a beta of 1.47. Olympic Steel, Inc. has a 52 week low of $32.23 and a 52 week high of $73.49. The business’s fifty day simple moving average is $38.42 and its 200 day simple moving average is $44.01.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be given a dividend of $0.15 per share. The ex-dividend date is Monday, December 2nd. This represents a $0.60 dividend on an annualized basis and a yield of 1.51%. 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.