Olympic Steel (ZEUS) Announces Quarterly Earnings Results
Olympic Steel (NASDAQ:ZEUS) announced its quarterly earnings results on Friday. The basic materials company reported ($0.04) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.15), Bloomberg Earnings reports. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The company had revenue of $308.17 million for the quarter, compared to the consensus estimate of $313.00 million. During the same period last year, the firm posted ($0.23) earnings per share. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year.
Shares of Olympic Steel (ZEUS) traded down $2.46 during trading on Friday, hitting $20.85. 501,218 shares of the stock were exchanged, compared to its average volume of 121,695. Olympic Steel has a 52-week low of $15.83 and a 52-week high of $25.84. The stock has a market capitalization of $228.71, a P/E ratio of 12.48, a price-to-earnings-growth ratio of 1.43 and a beta of 1.86. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.54 and a current ratio of 4.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Thursday, March 1st will be issued a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a yield of 0.38%. The ex-dividend date of this dividend is Wednesday, February 28th. Olympic Steel’s dividend payout ratio (DPR) is presently 4.79%.
Institutional investors have recently made changes to their positions in the company. Foundry Partners LLC lifted its holdings in shares of Olympic Steel by 14.8% in the fourth quarter. Foundry Partners LLC now owns 275,690 shares of the basic materials company’s stock worth $5,925,000 after buying an additional 35,575 shares in the last quarter. Algert Global LLC purchased a new stake in shares of Olympic Steel in the third quarter worth about $261,000. Prudential Financial Inc. lifted its holdings in shares of Olympic Steel by 3.3% in the third quarter. Prudential Financial Inc. now owns 103,140 shares of the basic materials company’s stock worth $2,269,000 after buying an additional 3,270 shares in the last quarter. State Street Corp lifted its holdings in shares of Olympic Steel by 5.8% in the second quarter. State Street Corp now owns 234,772 shares of the basic materials company’s stock worth $4,574,000 after buying an additional 12,824 shares in the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in shares of Olympic Steel in the third quarter worth about $264,000. 66.89% of the stock is currently owned by hedge funds and other institutional investors.
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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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