Olympic Steel Inc (NASDAQ:ZEUS – Get Rating) released its results on Thursday. The basic materials company reported earnings per share (EPS) of $2.16 for the quarter, missing the consensus estimate of $2.17 per ($0.01), MarketWatch Earnings reports. Olympic Steel had a net margin of 4.85% and a return on equity of 30.19%. In the same period a year earlier, the company had earned earnings per share of $0.14.
Shares of ZEUS rose $2.76 on Friday, hitting $27.96. The company’s shares had a trading volume of 1,196 shares, compared to an average volume of 71,088. The company has a quick ratio of 1.44, a current ratio of 3.26 and a leverage ratio of 0, 75. Olympic Steel has a 12-month low of $17.52 and a 12-month high of $40.00. The company has a market capitalization of $309.71 million, a P/E ratio of 3.21 and a beta of 1.69. The stock’s 50-day simple moving average is $23.33 and its 200-day simple moving average is $24.69.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 15. Shareholders of record on Tuesday, March 1 will receive a dividend of $0.09 per share. The ex-date of this dividend is Monday, February 28. This represents an annualized dividend of $0.36 and a dividend yield of 1.29%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.02. Olympic Steel’s dividend payout ratio is currently 0.94%.
Institutional investors and hedge funds have recently increased or reduced their stakes in the stock. BlackRock Inc. increased its holdings of Olympic Steel shares by 3.2% during the 4th quarter. BlackRock Inc. now owns 1,731,489 shares of the basic materials company valued at $40,690,000 after buying 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 worth $7,311,000 after acquiring 5,132 more 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 worth $6,726,000 after purchasing an additional 57,731 shares during the period. Geode Capital Management LLC increased its position in Olympic Steel shares by 0.4% during the fourth quarter. Geode Capital Management LLC now owns 159,110 shares of the basic materials company valued at $3,739,000 after acquiring 646 additional shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Olympic Steel by 2.7% during the third quarter. Bank of New York Mellon Corp now owns 126,959 shares of the basic materials company valued at $3,092,000 after buying 3,392 additional shares during the period. 71.29% of the shares are currently held by institutional investors and hedge funds.
About Olympic Steel (Get a rating)
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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