Olympic Steel (NASDAQ:ZEUS) COO Andrew Greiff Sells 3,000 Shares

Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew Greiff sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $32.80, for a total value of $98,400.00. Following the completion of the transaction, the chief operating officer owned 16,518 shares in the company, valued at $541,790.40. This represents a 15.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Olympic Steel Stock Down 1.5%

Olympic Steel stock traded down $0.63 during trading on Wednesday, hitting $42.78. 33,343 shares of the company were exchanged, compared to its average volume of 92,344. The business’s 50 day moving average is $37.81 and its 200 day moving average is $34.05. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $45.40. The company has a market capitalization of $479.14 million, a P/E ratio of 36.56 and a beta of 1.71. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $490.66 million for the quarter, compared to the consensus estimate of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. Analysts predict that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were paid a $0.16 dividend. The ex-dividend date was Monday, December 1st. This represents a $0.64 annualized dividend and a yield of 1.5%. Olympic Steel’s dividend payout ratio (DPR) is 54.70%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Olympic Steel in a research report on Monday. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $38.00.

Institutional Investors Weigh In On Olympic Steel

Large investors have recently modified their holdings of the stock. Magnetar Financial LLC bought a new position in Olympic Steel during the second quarter valued at $284,000. American Century Companies Inc. lifted its position in shares of Olympic Steel by 4.4% during the 2nd quarter. American Century Companies Inc. now owns 364,690 shares of the basic materials company’s stock valued at $11,885,000 after buying an additional 15,533 shares during the last quarter. Hsbc Holdings PLC grew its stake in shares of Olympic Steel by 64.9% during the 2nd quarter. Hsbc Holdings PLC now owns 34,826 shares of the basic materials company’s stock worth $1,135,000 after acquiring an additional 13,701 shares during the period. Panagora Asset Management Inc. increased its holdings in Olympic Steel by 96.2% in the 2nd quarter. Panagora Asset Management Inc. now owns 48,522 shares of the basic materials company’s stock worth $1,581,000 after acquiring an additional 23,785 shares during the last quarter. Finally, PDT Partners LLC bought a new stake in Olympic Steel in the 1st quarter valued at about $324,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.