Olympic Steel (NASDAQ:ZEUS) Hits New 12-Month High – Here’s What Happened

Olympic Steel, Inc. (NASDAQ:ZEUS) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $44.53 and last traded at $44.72, with a volume of 15675 shares traded. The stock had previously closed at $42.97.

Analyst Upgrades and Downgrades

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

Olympic Steel Price Performance

The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12. The stock has a market cap of $491.74 million, a PE ratio of 37.53 and a beta of 1.71. The stock’s 50-day moving average is $34.90 and its two-hundred day moving average is $33.22.

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

Olympic Steel Dividend Announcement

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. EverSource Wealth Advisors LLC boosted its position in Olympic Steel by 823.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company’s stock valued at $27,000 after buying an additional 741 shares during the period. Quarry LP acquired a new stake in shares of Olympic Steel in the third quarter valued at $27,000. Strs Ohio purchased a new position in Olympic Steel in the third quarter valued at $58,000. CoreCap Advisors LLC grew its stake in Olympic Steel by 41.2% during the 3rd quarter. CoreCap Advisors LLC now owns 3,669 shares of the basic materials company’s stock worth $112,000 after purchasing an additional 1,071 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Olympic Steel in the 3rd quarter valued at about $142,000. Institutional investors and hedge funds own 87.07% of the company’s stock.

Olympic Steel Company Profile

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.