Olympic Steel, Inc. (NASDAQ:ZEUS) reached a new 52-week low during trading on Friday . The stock traded as low as $18.04 and last traded at $18.19, with a volume of 3207 shares changing hands. The stock had previously closed at $18.90.
ZEUS has been the topic of several recent research reports. Zacks Investment Research downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, August 17th. ValuEngine downgraded shares of Olympic Steel from a “hold” rating to a “sell” rating in a report on Friday, August 10th. Finally, BidaskClub downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, July 28th.
The firm has a market capitalization of $212.02 million, a PE ratio of 15.38 and a beta of 1.71. The company has a current ratio of 3.67, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Olympic Steel had a net margin of 2.04% and a return on equity of 9.63%. The firm had revenue of $453.00 million for the quarter, compared to the consensus estimate of $445.00 million. During the same period in the prior year, the firm posted $0.42 earnings per share. The company’s revenue for the quarter was up 27.2% on a year-over-year basis. As a group, analysts anticipate that Olympic Steel, Inc. will post 3.2 EPS for the current fiscal year.
In other news, Director Arthur F. Anton purchased 10,000 shares of the stock in a transaction dated Monday, August 6th. The shares were purchased at an average cost of $23.37 per share, with a total value of $233,700.00. Following the completion of the acquisition, the director now owns 28,778 shares in the company, valued at approximately $672,541.86. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 18.29% of the company’s stock.
Institutional investors have recently made changes to their positions in the company. Globeflex Capital L P lifted its holdings in shares of Olympic Steel by 13.5% in the second quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock worth $533,000 after buying an additional 3,100 shares in the last quarter. Strs Ohio increased its position in shares of Olympic Steel by 9.1% in the second quarter. Strs Ohio now owns 32,400 shares of the basic materials company’s stock worth $661,000 after purchasing an additional 2,700 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Olympic Steel by 44.7% in the second quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock worth $561,000 after purchasing an additional 8,500 shares during the last quarter. BlackRock Inc. increased its position in shares of Olympic Steel by 1.0% in the first quarter. BlackRock Inc. now owns 1,340,374 shares of the basic materials company’s stock worth $27,491,000 after purchasing an additional 13,905 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA bought a new position in shares of Olympic Steel in the second quarter worth approximately $1,188,000. 67.05% of the stock is currently owned by hedge funds and other institutional investors.
Olympic Steel Company Profile (NASDAQ:ZEUS)
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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