Olympic Steel (NASDAQ:ZEUS) Upgraded to Hold by ValuEngine

ValuEngine upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a sell rating to a hold rating in a research report released on Thursday morning, ValuEngine reports.

Separately, Zacks Investment Research lowered Olympic Steel from a hold rating to a sell rating in a report on Sunday, September 8th.

NASDAQ ZEUS traded up $0.75 on Thursday, reaching $16.25. The stock had a trading volume of 2,258 shares, compared to its average volume of 56,720. The company has a debt-to-equity ratio of 0.93, a current ratio of 4.75 and a quick ratio of 1.95. The firm has a fifty day moving average of $11.39 and a two-hundred day moving average of $14.16. Olympic Steel has a 1-year low of $9.99 and a 1-year high of $21.94. The company has a market cap of $159.45 million, a P/E ratio of 4.54 and a beta of 2.15.



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

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 17th. Stockholders of record on Tuesday, September 3rd will be given a dividend of $0.02 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.49%. Olympic Steel’s payout ratio is 2.28%.

Several large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its position in shares of Olympic Steel by 23.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 4,825 shares of the basic materials company’s stock valued at $65,000 after acquiring an additional 917 shares during the period. Crossmark Global Holdings Inc. lifted its position in shares of Olympic Steel by 4.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 21,590 shares of the basic materials company’s stock worth $295,000 after buying an additional 934 shares during the last quarter. Northern Trust Corp lifted its position in shares of Olympic Steel by 1.1% during the 2nd quarter. Northern Trust Corp now owns 116,181 shares of the basic materials company’s stock worth $1,586,000 after buying an additional 1,286 shares during the last quarter. Van ECK Associates Corp lifted its position in shares of Olympic Steel by 19.4% during the 2nd quarter. Van ECK Associates Corp now owns 8,547 shares of the basic materials company’s stock worth $117,000 after buying an additional 1,387 shares during the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Olympic Steel by 356.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock worth $31,000 after buying an additional 1,524 shares during the last quarter. Hedge funds and other institutional investors own 67.57% of the company’s stock.

About Olympic Steel

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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