Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) declared a quarterly dividend on Thursday, November 3, Zacks reports. Shareholders of record on Thursday, December 1 will receive a dividend of 0.09 per share from the basic materials company on Thursday, December 15. This represents an annualized dividend of $0.36 and a yield of 1.24%. The ex-dividend date is Wednesday, November 30.
Olympic Steel Stock Performance
NASDAQ:ZEUS opened at $29.07 on Friday. The company’s 50-day moving average price is $25.42 and its 200-day moving average price is $28.87. The company has a current ratio of 3.50, a quick ratio of 1.41 and a debt ratio of 0.58. The company has a market capitalization of $323.55 million, a P/E ratio of 3.00 and a beta of 1.74. Olympic Steel has a 12-month low of $19.92 and a 12-month high of $43.18.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its quarterly results on Thursday August 4th. The basic materials company reported earnings per share of $3.26 for the quarter, beating the consensus estimate of $2.80 by $0.46. The company posted revenue of $709.18 million for the quarter, versus a consensus estimate of $655.10 million. Olympic Steel had a net margin of 5.35% and a return on equity of 34.19%. On average, sell-side analysts expect Olympic Steel to post earnings per share of 7.32 for the current fiscal year.
Analyst upgrades and downgrades
Separately, StockNews.com downgraded Olympic Steel shares from a “buy” rating to a “hold” rating in a research rating on Friday.
Hedge funds weigh on Olympic Steel
Hedge funds and other institutional investors have recently changed their stakes in the company. Quantbot Technologies LP increased its position in Olympic Steel by 42.1% during the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company worth $43,000 after buying 337 additional shares in the last quarter. UBS Group AG increased its position in Olympic Steel by 52.4% during the second quarter. UBS Group AG now owns 2,820 shares of the basic materials company worth $73,000 after buying an additional 970 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Olympic Steel by 88.7% during the second quarter. BNP Paribas Arbitrage SA now owns 6,765 shares of the basic materials company worth $174,000 after buying 3,180 additional shares in the last quarter. MetLife Investment Management LLC acquired a new stake in Olympic Steel during the first quarter valued at approximately $194,000. Finally, PDT Partners LLC increased its position in Olympic Steel shares by 10.2% during the second quarter. PDT Partners LLC now owns 8,757 shares of the basic materials company valued at $225,000 after acquiring 812 additional shares in the last quarter. 78.53% of the shares are held by hedge funds and other institutional investors.
Olympic Steel Company Profile
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Olympic Steel, Inc. is engaged in the processing, sale and distribution of metal products. It operates through the following segments: Carbon Flat Products, Special Metal Flat Products, and Tubular and Piping Products. The Carbon Flat Products segment includes large volumes of processed carbon and coated flat rolled sheets, coil and plate products, and fabricated parts.
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