Olympic Steel (NASDAQ:ZEUS) COO Sells $181,890.00 in Stock

Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew Greiff sold 4,500 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $40.42, for a total value of $181,890.00. Following the completion of the sale, the chief operating officer owned 12,018 shares of the company’s stock, valued at approximately $485,767.56. This trade represents a 27.24% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Olympic Steel Trading Down 1.5%

Shares of ZEUS traded down $0.63 during mid-day trading on Wednesday, hitting $42.78. 33,343 shares of the company’s stock traded hands, compared to its average volume of 92,344. The company has a quick ratio of 1.17, a current ratio of 3.12 and a debt-to-equity ratio of 0.42. The firm has a market capitalization of $479.14 million, a P/E ratio of 36.56 and a beta of 1.71. The business’s 50-day moving average price is $37.81 and its 200-day moving average price is $34.05. Olympic Steel, Inc. has a 1 year low of $26.32 and a 1 year high of $45.40.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $490.66 million during the quarter, compared to the consensus estimate of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. As a group, sell-side analysts forecast that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were given a dividend of $0.16 per share. The ex-dividend date was Monday, December 1st. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. Olympic Steel’s payout ratio is currently 54.70%.

Institutional Trading of Olympic Steel

A number of hedge funds have recently made changes to their positions in the stock. Exchange Traded Concepts LLC increased its position in Olympic Steel by 5.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 8,547 shares of the basic materials company’s stock valued at $260,000 after buying an additional 420 shares in the last quarter. Ethic Inc. lifted its stake in shares of Olympic Steel by 4.1% in the third quarter. Ethic Inc. now owns 11,684 shares of the basic materials company’s stock worth $356,000 after buying an additional 457 shares in the last quarter. SummerHaven Investment Management LLC increased its position in shares of Olympic Steel by 2.4% during the second quarter. SummerHaven Investment Management LLC now owns 19,523 shares of the basic materials company’s stock valued at $636,000 after acquiring an additional 464 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in Olympic Steel by 823.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 741 shares during the last quarter. Finally, Quarry LP bought a new position in shares of Olympic Steel during the third quarter valued at $27,000. 87.07% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Olympic Steel in a report on Monday. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $38.00.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.