Zacks Investment Research upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning, Zacks.com reports.

According to Zacks, “Olympic Steel, Inc. is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. “

Separately, ValuEngine raised shares of Olympic Steel from a sell rating to a hold rating in a research note on Thursday, September 12th.

Shares of ZEUS opened at $14.71 on Wednesday. The firm has a market capitalization of $162.40 million, a P/E ratio of 8.92 and a beta of 2.15. Olympic Steel has a 12-month low of $9.99 and a 12-month high of $21.71. The company has a current ratio of 4.75, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The firm has a fifty day moving average price of $11.94 and a 200-day moving average price of $14.01.

Olympic Steel (NASDAQ:ZEUS) last issued its earnings results on Thursday, August 1st. The basic materials company reported $0.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.13 by $0.03. The firm had revenue of $429.15 million during the quarter, compared to analyst estimates of $412.40 million. Olympic Steel had a net margin of 0.82% and a return on equity of 6.23%. The business’s revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.49 earnings per share. Analysts predict that Olympic Steel will post 0.5 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.54%. The ex-dividend date of this dividend was Friday, August 30th. Olympic Steel’s dividend payout ratio is currently 2.28%.

Several institutional investors and hedge funds have recently modified their holdings of ZEUS. Bank of America Corp DE boosted its stake in shares of Olympic Steel by 124.5% during the fourth quarter. Bank of America Corp DE now owns 17,929 shares of the basic materials company’s stock valued at $256,000 after purchasing an additional 9,944 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Olympic Steel by 356.9% during the first quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after purchasing an additional 1,524 shares during the period. Acadian Asset Management LLC boosted its stake in shares of Olympic Steel by 11.0% during the first quarter. Acadian Asset Management LLC now owns 231,047 shares of the basic materials company’s stock valued at $3,668,000 after purchasing an additional 22,878 shares during the period. Alambic Investment Management L.P. purchased a new stake in shares of Olympic Steel during the first quarter valued at $987,000. Finally, Globeflex Capital L P raised its holdings in shares of Olympic Steel by 18.0% in the first quarter. Globeflex Capital L P now owns 31,976 shares of the basic materials company’s stock valued at $507,000 after acquiring an additional 4,876 shares in the last quarter. 67.05% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Company Profile

Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.

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