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Olympic Steel, Inc. (NASDAQ:ZEUS - Get Rating) saw a large decline in short interest in August. As of August 31st, there was short interest totalling 303,200 shares, a decline of 18.9% from the August 15th total of 374,000 shares. Approximately 3.2% of the shares of the stock are short sold. Based on an average trading volume of 71,500 shares, the days-to-cover ratio is presently 4.2 days. Olympic Steel Price Performance
Olympic Steel stock opened at $24.85 on Thursday. Olympic Steel has a 52-week low of $19.92 and a 52-week high of $43.18. The firm has a market capitalization of $276.58 million, a price-to-earnings ratio of 1.98 and a beta of 1.72. The company has a fifty day simple moving average of $27.72 and a 200-day simple moving average of $31.22. The company has a quick ratio of 1.41, a current ratio of 3.50 and a debt-to-equity ratio of 0.58. Olympic Steel Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st will be issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, August 31st. Olympic Steel's payout ratio is 2.88%. Institutional Investors Weigh In On Olympic Steel
Large investors have recently modified their holdings of the business. Ellevest Inc. boosted its position in shares of Olympic Steel by 86.9% during the 1st quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company's stock valued at $42,000 after acquiring an additional 502 shares during the last quarter. Quantbot Technologies LP boosted its position in shares of Olympic Steel by 42.1% during the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock valued at $43,000 after acquiring an additional 337 shares during the last quarter. Denali Advisors LLC acquired a new position in shares of Olympic Steel during the 1st quarter valued at about $69,000. UBS Group AG boosted its position in shares of Olympic Steel by 52.4% during the 2nd quarter. UBS Group AG now owns 2,820 shares of the basic materials company's stock valued at $73,000 after acquiring an additional 970 shares during the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Olympic Steel by 17.8% during the 1st quarter. State of Tennessee Treasury Department now owns 3,447 shares of the basic materials company's stock valued at $133,000 after acquiring an additional 522 shares during the last quarter. Hedge funds and other institutional investors own 78.53% of the company's stock. Wall Street Analyst Weigh In
Separately, StockNews.com lowered shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Friday, August 5th.Olympic Steel Company Profile (Get Rating)
Olympic Steel, Inc processes, distributes, and storage metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.Featured ArticlesGet a free copy of the StockNews.com research report on Olympic Steel (ZEUS)Is This Medical Gear Maker Ready To Continue Its Rally? The Five (5) Hottest Stocks To Watch Ahead Of Q3 Earnings Has Take-Two Interactive Devolved into a One-Trick Pony?Four Cheap Stocks With Interesting Insider Activity Is Lyft Going To Make It As Acquisition Rumors Swirl?
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