Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) declared a quarterly dividend on Thursday, August 4, Zacks reports. Shareholders of record on Thursday, September 1 will receive a dividend of 0.09 per share from the basic materials company on Thursday, September 15. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, August 31.
Olympic Steel Awards Performance
Shares of ZEUS rose $0.20 on Friday, hitting $30.73. The company had a trading volume of 77,210 shares, compared to an average volume of 51,901. The stock has a market capitalization of $342.02 million, a PE ratio of 2.60 and a beta of 1.71. . The company has a quick ratio of 1.54, a current ratio of 3.70 and a debt ratio of 0.67. Olympic Steel has a 1-year low of $19.92 and a 1-year high of $43.18. The company’s 50-day moving average is $28.74 and its 200-day moving average is $30.24.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released quarterly earnings data on Thursday, May 5. The basic materials company reported earnings per share (EPS) of $3.10 for the quarter, beating the consensus estimate of $2.26 by $0.84. The company posted revenue of $696.33 million in the quarter, versus a consensus estimate of $548.40 million. Olympic Steel had a return on equity of 36.01% and a net margin of 5.36%. In the same quarter a year earlier, the company posted earnings per share of $1.97. Equity research analysts expect Olympic Steel to post EPS of 7.77 for the current fiscal year.
Wall Street analysts predict growth
Separately, StockNews.com downgraded Olympic Steel shares from a “buy” rating to a “hold” rating in a research report on Friday.
Insider Trading at Olympic Steel
Separately, insider David A. Wolfort sold 2,700 shares of the company in a trade that took place on Wednesday, May 11. The shares were sold at an average price of $31.14, for a total transaction of $84,078.00. Following the completion of the sale, the insider now owns 238,686 shares of the company, valued at approximately $7,432,682.04. The sale was disclosed in a legal filing with the SEC, accessible via this link. Separately, insider David A. Wolfort sold 4,540 shares in a trade on Monday, May 9. The stock was sold at an average price of $31.43, for a total value of $142,692.20. Following the transaction, the insider now directly owns 242,636 shares of the company, valued at approximately $7,626,049.48. The sale was disclosed in a filing with the SEC, which is available on the SEC’s website. Additionally, insider David A. Wolfort sold 2,700 shares in a trade on Wednesday, May 11. The stock was sold at an average price of $31.14, for a total value of $84,078.00. Following the completion of the transaction, the insider now owns 238,686 shares of the company, valued at $7,432,682.04. The disclosure of this sale can be found here. Insiders sold a total of 63,049 shares of the company valued at $2,165,001 during the last quarter. 17.40% of the shares are currently held by insiders of the company.
Hedge funds weigh on Olympic Steel
Several large investors have recently bought and sold shares of ZEUS. Quantbot Technologies LP increased its stake in Olympic Steel by 42.1% during the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company valued at $43,000 after acquiring 337 additional shares last quarter. MetLife Investment Management LLC bought a new position in Olympic Steel during Q1 worth $194,000. Atria Wealth Solutions Inc. bought a new position in Olympic Steel during Q1 worth $227,000. Citigroup Inc. increased its stake in Olympic Steel by 12.2% in the first quarter. Citigroup Inc. now owns 7,796 shares of the basic materials company valued at $300,000 after acquiring 847 additional shares last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Olympic Steel stock during Q1 for $309,000. 74.62% of the shares are currently held by institutional investors.
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.
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