Olympic Steel, Inc. (ZEUS) COO Andrew S. Greiff Acquires 3,500 Shares
Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew S. Greiff purchased 3,500 shares of the business’s stock in a transaction on Tuesday, September 5th. The stock was acquired at an average cost of $17.75 per share, with a total value of $62,125.00. Following the completion of the acquisition, the chief operating officer now directly owns 9,021 shares in the company, valued at approximately $160,122.75. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Olympic Steel, Inc. (ZEUS) traded down 5.18% during mid-day trading on Friday, reaching $18.29. The company’s stock had a trading volume of 210,150 shares. The company has a market cap of $200.59 million, a price-to-earnings ratio of 24.03 and a beta of 1.72. The stock’s 50 day moving average is $17.62 and its 200 day moving average is $18.81. Olympic Steel, Inc. has a 12 month low of $15.83 and a 12 month high of $28.67.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.06. The business had revenue of $356.20 million for the quarter, compared to analysts’ expectations of $365 million. Olympic Steel had a return on equity of 2.82% and a net margin of 0.71%. During the same quarter last year, the business earned $0.32 earnings per share. Equities research analysts predict that Olympic Steel, Inc. will post $1.23 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Friday, September 1st will be issued a $0.02 dividend. This represents a $0.08 annualized dividend and a yield of 0.44%. The ex-dividend date of this dividend is Wednesday, August 30th. Olympic Steel’s dividend payout ratio is 10.67%.
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Institutional investors and hedge funds have recently modified their holdings of the business. The Manufacturers Life Insurance Company boosted its holdings in Olympic Steel by 12.6% during the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock worth $163,000 after buying an additional 934 shares during the last quarter. State of Tennessee Treasury Department boosted its holdings in Olympic Steel by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 8,563 shares of the basic materials company’s stock worth $159,000 after buying an additional 1,292 shares during the last quarter. Comerica Bank boosted its holdings in Olympic Steel by 4.6% during the first quarter. Comerica Bank now owns 10,011 shares of the basic materials company’s stock worth $192,000 after buying an additional 438 shares during the last quarter. Capstone Asset Management Co. boosted its holdings in Olympic Steel by 3.5% during the first quarter. Capstone Asset Management Co. now owns 10,936 shares of the basic materials company’s stock worth $203,000 after buying an additional 370 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in Olympic Steel during the first quarter worth about $234,000. Hedge funds and other institutional investors own 68.13% of the company’s stock.
A number of equities research analysts have weighed in on ZEUS shares. Jefferies Group LLC reissued a “hold” rating on shares of Olympic Steel in a report on Friday, July 7th. Zacks Investment Research raised shares of Olympic Steel from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $21.75.
Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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