Olympic Steel (NASDAQ:ZEUS) released its quarterly earnings data on Thursday. The basic materials company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.36, MarketWatch Earnings reports. Olympic Steel had a return on equity of 9.63% and a net margin of 2.04%. The business had revenue of $457.00 million for the quarter, compared to the consensus estimate of $452.60 million. During the same quarter in the prior year, the business posted $0.20 EPS. The business’s revenue for the quarter was up 37.9% on a year-over-year basis.
ZEUS opened at $20.12 on Friday. Olympic Steel has a one year low of $17.40 and a one year high of $25.84. The stock has a market capitalization of $221.93 million, a PE ratio of 8.58 and a beta of 1.73. The company has a current ratio of 3.67, a quick ratio of 1.37 and a debt-to-equity ratio of 1.00.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Monday, December 3rd will be issued a $0.02 dividend. The ex-dividend date is Friday, November 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.40%. Olympic Steel’s payout ratio is currently 6.78%.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new position in shares of Olympic Steel in the 2nd quarter valued at about $171,000. First Trust Advisors LP purchased a new position in shares of Olympic Steel in the 3rd quarter valued at about $290,000. Victory Capital Management Inc. purchased a new position in shares of Olympic Steel in the 3rd quarter valued at about $301,000. Globeflex Capital L P increased its holdings in shares of Olympic Steel by 13.5% in the 2nd quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock valued at $533,000 after acquiring an additional 3,100 shares during the last quarter. Finally, GSA Capital Partners LLP increased its holdings in shares of Olympic Steel by 44.7% in the 2nd quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock valued at $561,000 after acquiring an additional 8,500 shares during the last quarter. Institutional investors and hedge funds own 65.88% of the company’s stock.
ZEUS has been the topic of a number of recent analyst reports. ValuEngine upgraded Olympic Steel from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. BidaskClub downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report on Saturday, July 28th. Finally, Zacks Investment Research downgraded Olympic Steel from a “buy” rating to a “hold” rating in a report on Friday, August 17th.
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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