Insider David A. Wolfort of Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) sold 10,059 shares of the company in a trade on Wednesday, May 25. The stock was sold at an average price of $34.68, for a total transaction of $348,846.12. Following the transaction, the insider now directly owns 184,064 shares of the company, valued at approximately $6,383,339.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available on the SEC’s website.
ZEUS was down $0.06 in Friday trading, hitting $36.34. 75,454 shares of the company were traded, against an average volume of 100,598. Olympic Steel, Inc. has a fifty-two week low of $19.92 and a fifty-two week high of $43.18. The company has a quick ratio of 1.54, a current ratio of 3.70 and a debt ratio of 0.67. The company has a 50-day moving average price of $35.64 and a 200-day moving average price of $28.32. The company has a market capitalization of $404.39 million, a P/E ratio of 3.07 and a beta of 1.61.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its quarterly results on Thursday, May 5. The basic materials company reported earnings per share of $3.10 for the quarter, beating analysts’ consensus estimate of $2.26 by $0.84. Olympic Steel had a net margin of 5.36% and a return on equity of 36.01%. The company posted revenue of $696.33 million for the quarter, versus a consensus estimate of $548.40 million. In the same quarter of the previous year, the company had earned earnings per share of $1.97. As a group, research analysts expect Olympic Steel, Inc. to post EPS of 7.02 for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, June 15. Shareholders of record on Wednesday, June 1 will receive a dividend of $0.09. The ex-dividend date is Tuesday, May 31. This represents an annualized dividend of $0.36 and a dividend yield of 0.99%. Olympic Steel’s dividend payout ratio is currently 3.04%.
Major investors have recently changed their stake in the company. UBS Group AG increased its stake in Olympic Steel shares by 117.8% in the third quarter. UBS Group AG now owns 1,686 shares of the basic materials company valued at $41,000 after buying 912 additional shares last quarter. Ellevest Inc. increased its stake in Olympic Steel shares by 86.9% in Q1. Ellevest Inc. now owns 1,080 shares of the basic materials company valued at $42,000 after buying an additional 502 shares in the last quarter. Quantbot Technologies LP increased its stake in Olympic Steel shares by 42.1% in Q1. Quantbot Technologies LP now owns 1,137 shares of the basic materials company valued at $43,000 after buying 337 additional shares last quarter. Denali Advisors LLC acquired a new stake in Olympic Steel stock in Q1 worth $69,000. Finally, the Tennessee State Treasury Department increased its stake in Olympic Steel shares by 17.8% in Q1. The Tennessee State Treasury Department now owns 3,447 shares of the basic materials company valued at $133,000 after buying 522 more shares last quarter. Institutional investors hold 74.62% of the company’s shares.
Separately, StockNews.com upgraded Olympic Steel shares from a “hold” rating to a “buy” rating in a Friday, May 20 research note.
Olympic Steel Company Profile (Get a rating)
Olympic Steel, Inc processes, distributes and stocks metal products in the United States and around the world. It operates in three segments: Carbon Flat Products; Flat products in special metals; and tubular and piping products. The Carbon Flat Products segment sells and distributes carbon flat rolled and coated sheets, coil and plate products and fabricated parts.
This instant news alert was powered by MarketBeat’s storytelling science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Olympic Steel right now?
Before you consider Olympic Steel, you’ll want to hear this.
MarketBeat tracks daily the highest rated and most successful research analysts on Wall Street and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market ripples…and Olympic Steel wasn’t on the list.
Although Olympic Steel currently has an “N/A” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here