Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) declared a quarterly dividend on Thursday, August 4th, Zacks reports. Stockholders of record on Thursday, September 1st will be given a dividend of 0.09 per share by the basic materials company on Thursday, September 15th. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Wednesday, August 31st.
Olympic Steel Price Performance
Shares of ZEUS stock traded up $0.20 on Friday, reaching $30.73. The company had a trading volume of 77,210 shares, compared to its average volume of 51,901. The stock has a market capitalization of $342.02 million, a PE ratio of 2.60 and a beta of 1.71. The company has a quick ratio of 1.54, a current ratio of 3.70 and a debt-to-equity ratio of 0.67. Olympic Steel has a one year low of $19.92 and a one year high of $43.18. The business’s 50-day moving average is $28.74 and its 200 day moving average is $30.24.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its quarterly earnings data on Thursday, May 5th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.84. The company had revenue of $696.33 million during the quarter, compared to the consensus estimate of $548.40 million. Olympic Steel had a return on equity of 36.01% and a net margin of 5.36%. During the same quarter in the prior year, the firm posted $1.97 earnings per share. Equities research analysts forecast that Olympic Steel will post 7.77 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Insider Transactions at Olympic Steel
In other news, insider David A. Wolfort sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $31.14, for a total transaction of $84,078.00. Following the completion of the sale, the insider now owns 238,686 shares of the company’s stock, valued at approximately $7,432,682.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, insider David A. Wolfort sold 4,540 shares of the stock in a transaction on Monday, May 9th. The stock was sold at an average price of $31.43, for a total value of $142,692.20. Following the transaction, the insider now directly owns 242,636 shares in the company, valued at approximately $7,626,049.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider David A. Wolfort sold 2,700 shares of the stock in a transaction on Wednesday, May 11th. The stock was sold at an average price of $31.14, for a total value of $84,078.00. Following the completion of the transaction, the insider now owns 238,686 shares in the company, valued at $7,432,682.04. The disclosure for this sale can be found here. Insiders sold a total of 63,049 shares of company stock valued at $2,165,001 in the last quarter. 17.40% of the stock is currently owned by company insiders.
Hedge Funds Weigh In On Olympic Steel
Several large investors have recently bought and sold shares of ZEUS. Quantbot Technologies LP lifted its stake in Olympic Steel by 42.1% during the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after acquiring an additional 337 shares in the last quarter. MetLife Investment Management LLC bought a new position in Olympic Steel during the 1st quarter valued at $194,000. Atria Wealth Solutions Inc. bought a new position in Olympic Steel during the 1st quarter valued at $227,000. Citigroup Inc. lifted its stake in Olympic Steel by 12.2% during the 1st quarter. Citigroup Inc. now owns 7,796 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 847 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Olympic Steel during the 1st quarter worth $309,000. 74.62% of the stock is currently owned by institutional investors.
Olympic Steel Company Profile
Olympic Steel, Inc processes, distributes, and storage 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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