Cubist Systematic Strategies LLC Trims Stock Position in Olympic Steel, Inc. $ZEUS

Cubist Systematic Strategies LLC lessened its position in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 41.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 22,504 shares of the basic materials company’s stock after selling 16,203 shares during the period. Cubist Systematic Strategies LLC owned approximately 0.20% of Olympic Steel worth $709,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of ZEUS. Versant Capital Management Inc grew its position in shares of Olympic Steel by 178.7% during the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 586 shares in the last quarter. New Age Alpha Advisors LLC boosted its stake in Olympic Steel by 33.6% during the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock valued at $76,000 after buying an additional 605 shares during the period. CWM LLC grew its position in Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock worth $78,000 after buying an additional 1,552 shares in the last quarter. Quantbot Technologies LP increased its stake in Olympic Steel by 20.1% in the 1st quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock worth $156,000 after acquiring an additional 830 shares during the last quarter. Finally, Meeder Asset Management Inc. bought a new position in Olympic Steel in the 1st quarter worth about $179,000. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wall Street Zen lowered Olympic Steel from a “buy” rating to a “hold” rating in a report on Sunday, August 10th. KeyCorp decreased their price objective on shares of Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $38.00.

Olympic Steel Stock Down 2.4%

Shares of NASDAQ ZEUS opened at $32.48 on Wednesday. Olympic Steel, Inc. has a one year low of $26.32 and a one year high of $43.60. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.07 and a quick ratio of 1.18. The firm’s 50 day simple moving average is $33.03 and its two-hundred day simple moving average is $32.07. The stock has a market capitalization of $363.78 million, a P/E ratio of 26.62 and a beta of 1.77.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Olympic Steel had a net margin of 0.77% and a return on equity of 1.95%. The business had revenue of $496.48 million for the quarter, compared to the consensus estimate of $506.60 million. As a group, analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be given a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date is Tuesday, September 2nd. Olympic Steel’s dividend payout ratio (DPR) is presently 52.46%.

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.