StockNews.com upgraded shares of Olympic Steel (NASDAQ:ZEUS - Free Report) from a hold rating to a buy rating in a research report released on Friday.
Separately, KeyCorp raised shares of Olympic Steel from a "sector weight" rating to an "overweight" rating and set a $42.00 price target for the company in a research report on Wednesday, January 22nd.
Get Our Latest Stock Report on Olympic Steel
Olympic Steel Stock Performance
NASDAQ:ZEUS traded down $1.10 during trading hours on Friday, reaching $34.98. The company had a trading volume of 147,220 shares, compared to its average volume of 75,939. The firm has a market cap of $389.43 million, a price-to-earnings ratio of 17.76 and a beta of 1.52. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. The firm's 50 day moving average price is $34.24 and its 200-day moving average price is $37.61. Olympic Steel has a 52 week low of $30.29 and a 52 week high of $73.27.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.08 by $0.05. The company had revenue of $418.78 million during the quarter, compared to analyst estimates of $441.60 million. Olympic Steel had a return on equity of 3.31% and a net margin of 1.18%. On average, analysts forecast that Olympic Steel will post 2.69 EPS for the current year.
Olympic Steel Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Monday, March 3rd. This is a boost from Olympic Steel's previous quarterly dividend of $0.15. Olympic Steel's dividend payout ratio (DPR) is currently 30.46%.
Institutional Investors Weigh In On Olympic Steel
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in Olympic Steel by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company's stock valued at $1,175,000 after purchasing an additional 578 shares during the period. Wedge Capital Management L L P NC lifted its position in shares of Olympic Steel by 2.9% during the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company's stock valued at $833,000 after buying an additional 705 shares in the last quarter. Los Angeles Capital Management LLC grew its stake in shares of Olympic Steel by 11.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company's stock valued at $247,000 after acquiring an additional 770 shares during the period. Van ECK Associates Corp grew its stake in shares of Olympic Steel by 3.7% during the 4th quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company's stock valued at $724,000 after acquiring an additional 780 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Olympic Steel by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company's stock worth $456,000 after acquiring an additional 839 shares in the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
About Olympic Steel
(
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Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.
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