Olympic Steel (NASDAQ:ZEUS) Reaches New 52-Week High – Should You Buy?

by · The Cerbat Gem

Olympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report)’s share price hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $44.53 and last traded at $44.72, with a volume of 15675 shares. The stock had previously closed at $42.97.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Olympic Steel in a report on Monday. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $38.00.

Read Our Latest Report on Olympic Steel

Olympic Steel Trading Up 2.2%

The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The company has a 50 day simple moving average of $34.90 and a 200 day simple moving average of $33.22. The stock has a market capitalization of $491.74 million, a PE ratio of 37.53 and a beta of 1.71.

Olympic Steel (NASDAQ:ZEUS – Get Free Report) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The firm had revenue of $490.66 million during the quarter, compared to analyst estimates of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. Analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.16 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.5%. Olympic Steel’s payout ratio is 54.70%.

Hedge Funds Weigh In On Olympic Steel

Hedge funds have recently bought and sold shares of the stock. Exchange Traded Concepts LLC boosted its holdings in shares of Olympic Steel by 5.2% during the third quarter. Exchange Traded Concepts LLC now owns 8,547 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 420 shares during the period. Ethic Inc. raised its stake in Olympic Steel by 4.1% during the 3rd quarter. Ethic Inc. now owns 11,684 shares of the basic materials company’s stock valued at $356,000 after acquiring an additional 457 shares in the last quarter. SummerHaven Investment Management LLC lifted its holdings in Olympic Steel by 2.4% in the second quarter. SummerHaven Investment Management LLC now owns 19,523 shares of the basic materials company’s stock worth $636,000 after purchasing an additional 464 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Olympic Steel by 823.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock worth $27,000 after acquiring an additional 741 shares during the period. Finally, Quantbot Technologies LP increased its stake in shares of Olympic Steel by 20.1% during the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock valued at $156,000 after acquiring an additional 830 shares during the period. Hedge funds and other institutional investors own 87.07% of the company’s stock.

About Olympic Steel

(Get Free Report)

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.

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