Charles Schwab Investment Management Inc. Sells 37,140 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS)

Charles Schwab Investment Management Inc. trimmed its holdings in shares of Olympic Steel, Inc. (NASDAQ:ZEUS) by 28.0% in the third quarter, HoldingsChannel.com reports. The fund owned 95,534 shares of the basic materials company’s stock after selling 37,140 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Olympic Steel were worth $3,726,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in shares of Olympic Steel by 21.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock valued at $6,358,000 after purchasing an additional 25,201 shares during the last quarter. Quest Partners LLC grew its position in Olympic Steel by 488.4% during the third quarter. Quest Partners LLC now owns 15,411 shares of the basic materials company’s stock valued at $601,000 after buying an additional 12,792 shares during the period. Unison Advisors LLC bought a new position in Olympic Steel during the third quarter valued at about $729,000. Assenagon Asset Management S.A. increased its holdings 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 last quarter. Finally, Renaissance Technologies LLC raised its position in Olympic Steel by 62.0% in the second quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock worth $4,429,000 after acquiring an additional 37,798 shares during the period. 87.07% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Olympic Steel Stock Performance

NASDAQ:ZEUS opened at $39.67 on Friday. The company has a market capitalization of $441.53 million, a P/E ratio of 17.40 and a beta of 1.49. The business has a fifty day simple moving average of $39.76 and a two-hundred day simple moving average of $42.04. The company has a debt-to-equity ratio of 0.35, a current ratio of 3.52 and a quick ratio of 1.26. Olympic Steel, Inc. has a 1 year low of $32.23 and a 1 year high of $73.49.

Olympic Steel Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Monday, December 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.51%. The ex-dividend date of this dividend is Monday, December 2nd. Olympic Steel’s dividend payout ratio (DPR) is currently 26.32%.

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.