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Olympic Steel, Inc. (NASDAQ:ZEUS - Get Rating) - Investment analysts at KeyCorp increased their Q3 2022 earnings estimates for shares of Olympic Steel in a note issued to investors on Sunday, August 7th. KeyCorp analyst P. Gibbs now expects that the basic materials company will post earnings per share of $0.84 for the quarter, up from their previous forecast of $0.59. The consensus estimate for Olympic Steel's current full-year earnings is $7.77 per share. KeyCorp also issued estimates for Olympic Steel's Q4 2022 earnings at $0.01 EPS, FY2022 earnings at $7.20 EPS, Q1 2023 earnings at $0.27 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.42 EPS, Q4 2023 earnings at $0.31 EPS and FY2023 earnings at $1.50 EPS.
Separately, StockNews.com downgraded shares of Olympic Steel from a "buy" rating to a "hold" rating in a report on Friday, August 5th.Olympic Steel Price Performance
Shares of ZEUS stock traded down $1.53 on Wednesday, hitting $29.44. 56,933 shares of the stock traded hands, compared to its average volume of 93,607. The firm has a market cap of $327.61 million, a price-to-earnings ratio of 2.35 and a beta of 1.71. Olympic Steel has a 52 week low of $19.92 and a 52 week high of $43.18. The firm has a 50 day simple moving average of $28.54 and a two-hundred day simple moving average of $30.41. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.50 and a quick ratio of 1.41.
The business also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Thursday, September 1st will be issued a $0.09 dividend. The ex-dividend date is Wednesday, August 31st. This represents a $0.36 dividend on an annualized basis and a yield of 1.22%. Olympic Steel's dividend payout ratio is currently 2.88%. Insiders Place Their Bets
In related news, Director David A. Wolfort sold 5,750 shares of Olympic Steel stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $35.58, for a total transaction of $204,585.00. Following the completion of the transaction, the director now directly owns 163,314 shares of the company's stock, valued at approximately $5,810,712.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Olympic Steel news, Director David A. Wolfort sold 5,750 shares of the business's stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $35.58, for a total value of $204,585.00. Following the completion of the sale, the director now directly owns 163,314 shares of the company's stock, valued at approximately $5,810,712.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider David A. Wolfort sold 10,000 shares of the business's stock in a transaction dated Friday, May 27th. The shares were sold at an average price of $36.20, for a total transaction of $362,000.00. Following the completion of the sale, the insider now directly owns 170,064 shares of the company's stock, valued at $6,156,316.80. The disclosure for this sale can be found here. Insiders sold 55,809 shares of company stock valued at $1,938,231 in the last three months. Corporate insiders own 15.73% of the company's stock. Institutional Inflows and Outflows
Several large investors have recently modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Olympic Steel during the 2nd quarter worth approximately $213,000. Janney Montgomery Scott LLC boosted its holdings in shares of Olympic Steel by 2.7% in the 2nd quarter. Janney Montgomery Scott LLC now owns 19,490 shares of the basic materials company's stock valued at $511,000 after acquiring an additional 510 shares during the last quarter. New England Research & Management Inc. purchased a new stake in shares of Olympic Steel in the 2nd quarter valued at $261,000. Amalgamated Bank purchased a new stake in shares of Olympic Steel in the 1st quarter valued at $160,000. Finally, Bank of America Corp DE boosted its holdings in shares of Olympic Steel by 16.0% in the 1st quarter. Bank of America Corp DE now owns 23,308 shares of the basic materials company's stock valued at $896,000 after acquiring an additional 3,207 shares during the last quarter. Institutional investors own 74.62% of the company's stock. Olympic Steel Company Profile (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.Recommended StoriesGet a free copy of the StockNews.com research report on Olympic Steel (ZEUS)Workhorse Group Is Ready To Get Back On The Horse A Rounded Bottom In Draftkings, Inc Begins To Reverse CourseAre 3M, Honeywell, GE Buys After Quarterly Reports?Is Sofi Financial Stock Finally Ready to Pay Off for Investors?CVS and Walgreens Show Why Investment Objectives Matter
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