Olympic Steel (NASDAQ:ZEUS) Cut to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Olympic Steel (NASDAQ:ZEUS) from a hold rating to a sell rating in a research report sent to investors on Sunday, Zacks.com reports.

According to Zacks, “Olympic Steel, Inc. is a leading U.S. metals service center focused on the direct sale and distribution of large volumes of processed carbon, coated and stainless flat-rolled sheet, coil and plate steel and aluminum products. The Company’s CTI subsidiary is a leading distributor of steel tubing, bar, pipe, valves and fittings, and fabricates pressure parts for the electric utility industry. “

Separately, ValuEngine upgraded shares of Olympic Steel from a strong sell rating to a sell rating in a research note on Thursday, August 1st.



ZEUS opened at $14.63 on Friday. Olympic Steel has a 12-month low of $9.99 and a 12-month high of $21.94. The company has a current ratio of 4.75, a quick ratio of 1.95 and a debt-to-equity ratio of 0.93. The business’s fifty day simple moving average is $11.33 and its 200-day simple moving average is $14.19. The company has a market capitalization of $122.07 million, a price-to-earnings ratio of 4.17 and a beta of 2.15.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.13 by $0.03. The firm had revenue of $429.15 million during the quarter, compared to the consensus estimate of $412.40 million. Olympic Steel had a return on equity of 6.23% and a net margin of 0.82%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.49 earnings per share. On average, equities research analysts predict that Olympic Steel will post 0.5 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 17th. Investors of record on Tuesday, September 3rd will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date is Friday, August 30th. Olympic Steel’s dividend payout ratio (DPR) is currently 2.28%.

A number of hedge funds have recently modified their holdings of the stock. Bank of America Corp DE lifted its position in Olympic Steel by 124.5% during the fourth quarter. Bank of America Corp DE now owns 17,929 shares of the basic materials company’s stock valued at $256,000 after acquiring an additional 9,944 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in Olympic Steel by 356.9% in the first quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock valued at $31,000 after buying an additional 1,524 shares during the last quarter. Acadian Asset Management LLC raised its stake in Olympic Steel by 11.0% in the first quarter. Acadian Asset Management LLC now owns 231,047 shares of the basic materials company’s stock valued at $3,668,000 after buying an additional 22,878 shares during the last quarter. Alambic Investment Management L.P. acquired a new stake in Olympic Steel in the first quarter worth about $987,000. Finally, Globeflex Capital L P boosted its holdings in Olympic Steel by 18.0% in the first quarter. Globeflex Capital L P now owns 31,976 shares of the basic materials company’s stock worth $507,000 after acquiring an additional 4,876 shares in the last quarter. 67.57% of the stock is currently owned by institutional investors.

Olympic Steel Company Profile

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.

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