A number of other research firms also recently weighed in on ZEUS. Jefferies Group LLC reaffirmed a hold rating on shares of Olympic Steel in a research note on Friday, July 7th. Zacks Investment Research raised shares of Olympic Steel from a strong sell rating to a hold rating in a research note on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $21.75.
Shares of Olympic Steel (NASDAQ ZEUS) opened at 20.29 on Tuesday. The stock has a market cap of $222.52 million, a P/E ratio of 26.66 and a beta of 1.72. The firm’s 50-day moving average price is $17.91 and its 200-day moving average price is $18.45. Olympic Steel has a 52-week low of $15.83 and a 52-week high of $28.67.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The business had revenue of $356.20 million for the quarter, compared to the consensus estimate of $365.00 million. During the same period in the prior year, the business posted $0.32 earnings per share. On average, equities research analysts forecast that Olympic Steel will post $1.23 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Friday, September 1st were given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.39%. The ex-dividend date of this dividend was Wednesday, August 30th. Olympic Steel’s payout ratio is 10.67%.
In other Olympic Steel news, CFO Richard T. Marabito bought 2,000 shares of the stock in a transaction on Friday, August 11th. The shares were purchased at an average cost of $17.42 per share, with a total value of $34,840.00. Following the completion of the transaction, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at approximately $533,295.88. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO Andrew S. Greiff bought 3,500 shares of the stock in a transaction on Tuesday, September 5th. The shares were acquired at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the completion of the transaction, the chief operating officer now directly owns 9,021 shares of the company’s stock, valued at $160,122.75. The disclosure for this purchase can be found here. Corporate insiders own 18.29% of the company’s stock.
A number of institutional investors have recently bought and sold shares of ZEUS. State of Tennessee Treasury Department increased its position in Olympic Steel by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 8,563 shares of the basic materials company’s stock worth $159,000 after buying an additional 1,292 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in Olympic Steel by 12.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after buying an additional 934 shares during the last quarter. Comerica Bank increased its position in Olympic Steel by 4.6% during the first quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock worth $192,000 after buying an additional 438 shares during the last quarter. Capstone Asset Management Co. increased its position in Olympic Steel by 3.5% during the first quarter. Capstone Asset Management Co. now owns 10,936 shares of the basic materials company’s stock worth $203,000 after buying an additional 370 shares during the last quarter. Finally, Trexquant Investment LP acquired a new position in Olympic Steel during the first quarter worth $234,000. 68.11% of the stock is currently owned by hedge funds and other institutional investors.
Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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