Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) – KeyCorp analysts raised their first-quarter 2022 EPS estimates for Olympic Steel shares in a research report released Tuesday, April 19. KeyCorp analyst P. Gibbs now expects the basic materials company to earn $2.41 per share for the quarter, up from its previous estimate of $2.35.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released quarterly earnings data on Thursday, February 24. The basic materials company reported earnings per share of $2.79 for the quarter. Olympic Steel had a net margin of 5.24% and a return on equity of 35.85%. The company had revenue of $624.59 million in the quarter. In the same quarter a year earlier, the company posted earnings per share of $0.14.
Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report released on Monday.
Olympic Steel stock opened at $42.46 on Thursday. The company’s 50-day simple moving average is $32.34 and its 200-day simple moving average is $26.78. Olympic Steel has a 52 week low of $19.92 and a 52 week high of $42.83. The company has a market capitalization of $472.33 million, a PE ratio of 4.04 and a beta of 1.63. The company has a debt ratio of 0.77, a quick ratio of 1.36 and a current ratio of 3.52.
A number of hedge funds have recently changed their positions in the stock. Ellevest Inc. increased its position in Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company valued at $42,000 after buying an additional 502 shares last quarter. 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 acquiring 912 additional shares in the last quarter. Denali Advisors LLC acquired a new position in Olympic Steel stock in Q1 worth approximately $69,000. KBC Group NV acquired a new stake in Olympic Steel during the 3rd quarter for a value of approximately $108,000. Finally, Ritholtz Wealth Management acquired a new stake in Olympic Steel during the 1st quarter at a value of $210,000. 72.95% of the shares are currently held by institutional investors and hedge funds.
In other Olympic Steel news, insider David A. Wolfort sold 29,700 shares of Olympic Steel in a trade that took place on Tuesday, March 8. The stock was sold at an average price of $30.13, for a total transaction of $894,861.00. The transaction was disclosed in a filing with the SEC, accessible via this hyperlink. Additionally, COO Andrew S. Greiff acquired 2,500 shares in a transaction dated Monday, March 14. The stock was purchased at an average price of $28.79 per share, for a total transaction of $71,975.00. Disclosure of this purchase can be found here. 15.73% of the shares are currently held by insiders of the company.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 received a dividend of $0.09. The ex-dividend date was Monday, February 28. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 0.85%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.02. The dividend payout ratio (DPR) of Olympic Steel is currently 3.42%.
About Olympic Steel (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.
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