Research analysts release forecast for Olympic Steel, Inc. earnings in the first quarter of 2022 (NASDAQ:ZEUS)

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Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) – KeyCorp released its first quarter 2022 earnings estimates for Olympic Steel in a note to investors on Tuesday, March 15. KeyCorp analyst P. Gibbs expects the basic materials company to earn $2.35 per share for the quarter. KeyCorp also released estimates for Olympic Steel‘s second-quarter 2022 earnings at $1.48 EPS and full-year 2022 earnings at $3.90 EPS. Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its results on Thursday, February 24. The basic materials company reported earnings per share (EPS) 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 posted revenue of $624.59 million for the quarter. In the same quarter of the previous year, the company had earned earnings per share of $0.14.

Separately, StockNews.com downgraded Olympic Steel shares from a “buy” rating to a “hold” rating in a Monday, Feb. 28 research report.

Olympic Steel shares opened at $34.19 on Friday. The company has a debt ratio of 0.77, a current ratio of 3.52 and a quick ratio of 1.36. Olympic Steel has a 1 year low of $19.92 and a 1 year high of $40.00. The company’s 50-day moving average is $25.31 and its two-hundred-day moving average is $24.77. The stock has a market capitalization of $378.72 million, a price-earnings ratio of 3.25 and a beta of 1.58.

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A number of hedge funds have recently changed their positions in ZEUS. Northern Trust Corp increased its stake in Olympic Steel by 1.7% in the second quarter. Northern Trust Corp now owns 104,169 shares of the basic materials company valued at $3,062,000 after buying an additional 1,726 shares last quarter. Nuveen Asset Management LLC increased its stake in Olympic Steel by 39.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 131,374 shares of the basic materials company valued at $3,861,000 after purchasing an additional 37,137 shares last quarter. State Street Corp increased its stake in Olympic Steel by 4.4% in the second quarter. State Street Corp now owns 309,283 shares of the basic materials company valued at $9,090,000 after buying an additional 12,961 shares last quarter. Morgan Stanley increased its stake in Olympic Steel by 54.0% in the second quarter. Morgan Stanley now owns 218,385 shares of the basic materials company valued at $6,418,000 after buying an additional 76,600 shares last quarter. Finally, the Royal Bank of Canada increased its stake in Olympic Steel by 8.4% in the second quarter. Royal Bank of Canada now owns 9,641 shares of the basic materials company valued at $283,000 after buying 750 more shares last quarter. Institutional investors hold 72.95% of the company’s shares.

Separately, insider David A. Wolfort sold 45,351 shares of Olympic Steel in a trade on Thursday, March 10. The shares were sold at an average price of $30.99, for a total value of $1,405,427.49. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Additionally, COO Andrew S. Greiff purchased 2,500 shares of the company in a transaction that took place on 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. 17.40% of the shares are 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 per share. This is a boost from Olympic Steel’s previous quarterly dividend of $0.02. The ex-dividend date was Monday, February 28. This represents a dividend of $0.36 on an annualized basis and a dividend yield of 1.05%. The dividend payout ratio (DPR) of Olympic Steel is currently 3.42%.

Olympic Steel Company Profile (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.

Further reading

Earnings history and estimates for Olympic Steel (NASDAQ:ZEUS)

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