Olympic Steel (ZEUS) Reaches New 12-Month Low at $18.04

Olympic Steel, Inc. (NASDAQ:ZEUS) shares hit a new 52-week low during trading on Friday . The company traded as low as $18.04 and last traded at $18.19, with a volume of 3207 shares trading hands. The stock had previously closed at $18.90.

A number of research analysts have commented on the stock. Zacks Investment Research cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Friday, August 17th. ValuEngine cut shares of Olympic Steel from a “hold” rating to a “sell” rating in a research report on Friday, August 10th. Finally, BidaskClub cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Saturday, July 28th.

The company has a debt-to-equity ratio of 1.00, a quick ratio of 1.37 and a current ratio of 3.67. The stock has a market cap of $212.02 million, a P/E ratio of 15.38 and a beta of 1.71.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, August 2nd. The basic materials company reported $1.49 EPS for the quarter, beating 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 business had revenue of $453.00 million for the quarter, compared to analysts’ expectations of $445.00 million. During the same period last year, the business earned $0.42 earnings per share. The business’s quarterly revenue was up 27.2% on a year-over-year basis. Equities analysts expect that Olympic Steel, Inc. will post 3.2 EPS for the current fiscal year.

In related news, Director Arthur F. Anton acquired 10,000 shares of the company’s stock in a transaction dated Monday, August 6th. The stock was purchased at an average price of $23.37 per share, with a total value of $233,700.00. Following the completion of the purchase, the director now owns 28,778 shares in the company, valued at approximately $672,541.86. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 18.29% of the stock is owned by company insiders.

Large investors have recently added to or reduced their stakes in the company. Sun Life Financial INC purchased a new stake in shares of Olympic Steel during the second quarter valued at approximately $171,000. New York State Common Retirement Fund boosted its stake in shares of Olympic Steel by 96.3% during the first quarter. New York State Common Retirement Fund now owns 21,197 shares of the basic materials company’s stock valued at $435,000 after purchasing an additional 10,397 shares during the period. Globeflex Capital L P boosted its stake in shares of Olympic Steel by 13.5% during the second quarter. Globeflex Capital L P now owns 26,100 shares of the basic materials company’s stock valued at $533,000 after purchasing an additional 3,100 shares during the period. GSA Capital Partners LLP boosted its stake in shares of Olympic Steel by 44.7% during the second quarter. GSA Capital Partners LLP now owns 27,500 shares of the basic materials company’s stock valued at $561,000 after purchasing an additional 8,500 shares during the period. Finally, Scopus Asset Management L.P. purchased a new stake in shares of Olympic Steel during the second quarter valued at approximately $616,000. 67.05% of the stock is owned by hedge funds and other institutional investors.

About Olympic Steel (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.

Featured Story: Understanding Price to Earnings Ratio (PE)

Receive News & Ratings for Olympic Steel Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Olympic Steel and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply