Olympic Steel (NASDAQ:ZEUS) Stock Crosses Above 200-Day Moving Average – Time to Sell?
by Danessa Lincoln · The Markets DailyOlympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $35.50 and traded as high as $50.59. Olympic Steel shares last traded at $48.97, with a volume of 119,302 shares.
Analysts Set New Price Targets
Separately, Weiss Ratings raised shares of Olympic Steel from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Olympic Steel presently has a consensus rating of “Moderate Buy” and an average target price of $38.00.
Get Our Latest Stock Report on Olympic Steel
Olympic Steel Price Performance
The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12. The firm has a fifty day simple moving average of $41.60 and a 200 day simple moving average of $35.50. The company has a market capitalization of $548.46 million, a PE ratio of 41.86 and a beta of 1.74.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share (EPS) 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 return on equity of 2.11% and a net margin of 0.73%. Equities analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current year.
Olympic Steel Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given a dividend of $0.16 per share. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.64 dividend on an annualized basis and a yield of 1.3%. Olympic Steel’s dividend payout ratio (DPR) is 54.70%.
Insider Activity at Olympic Steel
In other news, COO Andrew S. Greiff sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The shares were sold at an average price of $40.42, for a total value of $181,890.00. Following the completion of the sale, the chief operating officer owned 12,018 shares of the company’s stock, valued at approximately $485,767.56. This represents a 27.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 13.80% of the company’s stock.
Hedge Funds Weigh In On Olympic Steel
Large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC boosted its position in Olympic Steel by 823.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock valued at $27,000 after acquiring an additional 741 shares in the last quarter. Quarry LP purchased a new stake in shares of Olympic Steel during the 3rd quarter worth $27,000. Strs Ohio bought a new stake in Olympic Steel during the third quarter valued at about $58,000. CoreCap Advisors LLC grew its stake in Olympic Steel by 41.2% in the third quarter. CoreCap Advisors LLC now owns 3,669 shares of the basic materials company’s stock valued at $112,000 after purchasing an additional 1,071 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Olympic Steel in the third quarter worth about $142,000. Institutional investors own 87.07% of the company’s stock.
About Olympic Steel
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.