Olympic Steel (NASDAQ:ZEUS) Hits New 1-Year High – Here’s What Happened
by Jessica Moore · The Cerbat GemOlympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report)’s stock price reached a new 52-week high on Monday . The company traded as high as $45.49 and last traded at $45.3060, with a volume of 32274 shares traded. The stock had previously closed at $43.87.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d+)” rating on shares of Olympic Steel in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Olympic Steel presently has a consensus rating of “Hold” and a consensus price target of $38.00.
Check Out Our Latest Stock Analysis on Olympic Steel
Olympic Steel Trading Up 1.0%
The stock’s 50 day moving average is $38.66 and its 200-day moving average is $34.31. The company has a market cap of $496.27 million, a P/E ratio of 37.87 and a beta of 1.74. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last released its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The firm had revenue of $490.66 million for the quarter, compared to the consensus estimate of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. Research analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.
Olympic Steel Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were issued a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Monday, December 1st. Olympic Steel’s payout ratio is presently 54.70%.
Insider Transactions at Olympic Steel
In other Olympic Steel news, COO Andrew S. Greiff sold 4,500 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $40.42, for a total transaction of $181,890.00. Following the sale, the chief operating officer directly owned 12,018 shares in the company, valued at approximately $485,767.56. This trade represents a 27.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 13.80% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Invenomic Capital Management LP bought a new stake in Olympic Steel in the 3rd quarter worth approximately $6,191,000. CSM Advisors LLC bought a new position in shares of Olympic Steel during the 2nd quarter valued at $5,964,000. JPMorgan Chase & Co. boosted its stake in shares of Olympic Steel by 94.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 154,973 shares of the basic materials company’s stock worth $5,051,000 after buying an additional 75,296 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Olympic Steel by 47.4% in the second quarter. AQR Capital Management LLC now owns 212,365 shares of the basic materials company’s stock worth $6,921,000 after acquiring an additional 68,316 shares during the period. Finally, Profit Investment Management LLC bought a new stake in shares of Olympic Steel in the second quarter worth $1,552,000. 87.07% of the stock is owned by institutional investors.
Olympic Steel Company Profile
Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.
Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.