Olympic Steel (NASDAQ:ZEUS – Get Rating) released its quarterly earnings data on Thursday. The basic materials company reported earnings per share (EPS) of $3.23 for the quarter, beating analyst consensus estimates of $2.16 by $1.07, MarketWatch Earnings reports. Olympic Steel had a return on equity of 35.85% and a net margin of 5.24%. In the same quarter of the previous year, the company had earned earnings per share of $1.97.
ZEUS stock opened at $33.28 on Friday. The company has a quick ratio of 1.36, a current ratio of 3.52 and a debt ratio of 0.77. The company has a 50-day moving average price of $35.07 and a two-hundred-day moving average price of $27.70. The company has a market capitalization of $370.07 million, a price-earnings ratio of 2.81 and a beta of 1.61. Olympic Steel has a 12-month low of $19.92 and a 12-month high of $43.18.
The company also recently declared 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 a dividend of $0.36 on an annualized basis and a yield of 1.08%. Olympic Steel’s dividend payout ratio is 3.04%.
In other Olympic Steel news, COO Andrew S. Greiff purchased 2,500 shares of Olympic Steel in a trade 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. The purchase was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, insider David A. Wolfort sold 45,351 shares of Olympic Steel in a trade that took place on Thursday, March 10. The stock was sold at an average price of $30.99, for a total value of $1,405,427.49. The disclosure of this sale can be found here. 17.40% of the shares are held by insiders of the company.
A number of large investors have recently increased or reduced their stakes in the stock. BlackRock Inc. increased its stake in Olympic Steel by 3.2% in the fourth quarter. BlackRock Inc. now owns 1,731,489 shares of the basic materials company valued at $40,690,000 after acquiring an additional 53,809 shares last quarter. State Street Corp increased its stake in Olympic Steel by 1.7% in the fourth quarter. State Street Corp now owns 311,103 shares of the basic materials company valued at $7,311,000 after acquiring an additional 5,132 shares last quarter. Morgan Stanley increased its stake in Olympic Steel by 26.4% in the third quarter. Morgan Stanley now owns 276,116 shares of the basic materials company valued at $6,726,000 after acquiring an additional 57,731 shares last quarter. Geode Capital Management LLC increased its stake in Olympic Steel shares by 0.4% during the 4th quarter. Geode Capital Management LLC now owns 159,110 shares of the basic materials company worth $3,739,000 after buying 646 additional shares last quarter. Finally, Bank of New York Mellon Corp increased its stake in Olympic Steel shares by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 126,959 shares of the basic materials company worth $3,092,000 after buying 3,392 more shares last quarter. 74.62% of the shares are held by institutional investors and hedge funds.
Separately, StockNews.com downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report released Wednesday.
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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