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Olympic Steel, Inc. (NASDAQ:ZEUS - Get Rating) Director David A. Wolfort sold 5,750 shares of the stock in a transaction on Monday, June 6th. The stock was sold at an average price of $35.58, for a total value of $204,585.00. Following the completion of the transaction, the director now owns 163,314 shares in the company, valued at $5,810,712.12. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.
NASDAQ ZEUS traded down $2.61 on Wednesday, reaching $35.36. The company had a trading volume of 66,323 shares, compared to its average volume of 100,212. The stock has a market capitalization of $393.49 million, a P/E ratio of 2.97 and a beta of 1.61. The company's fifty day moving average is $35.66 and its 200 day moving average is $28.96. Olympic Steel, Inc. has a 52-week low of $19.92 and a 52-week high of $43.18. 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 (NASDAQ:ZEUS - Get Rating) last released its quarterly earnings results on Thursday, May 5th. The basic materials company reported $3.10 EPS for the quarter, beating analysts' consensus estimates of $2.26 by $0.84. The business had revenue of $696.33 million during the quarter, compared to analyst estimates of $548.40 million. Olympic Steel had a return on equity of 36.01% and a net margin of 5.36%. During the same period in the prior year, the firm posted $1.97 EPS. On average, research analysts expect that Olympic Steel, Inc. will post 7.77 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be given a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date is Tuesday, May 31st. Olympic Steel's payout ratio is currently 3.04%.
Several institutional investors have recently made changes to their positions in ZEUS. Millennium Management LLC purchased a new stake in shares of Olympic Steel during the 2nd quarter valued at $201,000. Morgan Stanley increased its position in shares of Olympic Steel by 54.0% during the 2nd quarter. Morgan Stanley now owns 218,385 shares of the basic materials company's stock valued at $6,418,000 after purchasing an additional 76,600 shares during the last quarter. Barclays PLC increased its holdings in Olympic Steel by 20.8% in the 3rd quarter. Barclays PLC now owns 18,830 shares of the basic materials company's stock worth $458,000 after acquiring an additional 3,236 shares during the last quarter. Voya Investment Management LLC increased its holdings in Olympic Steel by 2.5% in the 3rd quarter. Voya Investment Management LLC now owns 22,273 shares of the basic materials company's stock worth $543,000 after acquiring an additional 549 shares during the last quarter. Finally, Putnam Investments LLC increased its holdings in Olympic Steel by 181.3% in the 3rd quarter. Putnam Investments LLC now owns 129,420 shares of the basic materials company's stock worth $3,153,000 after acquiring an additional 83,420 shares during the last quarter. 74.62% of the stock is owned by hedge funds and other institutional investors.
Separately, StockNews.com upgraded Olympic Steel from a "hold" rating to a "buy" rating in a report on Friday, May 20th.
About Olympic Steel (Get Rating)
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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