David A. Wolfort Sells 2,700 Shares of Olympic Steel, Inc. (NASDAQ:ZEUS) Stock

Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) insider David A. Wolfort sold 2,700 shares of the business’s stock in a transaction dated Wednesday, May 11th. The shares were sold at an average price of $31.14, for a total value of $84,078.00. Following the sale, the insider now directly owns 238,686 shares of the company’s stock, valued at approximately $7,432,682.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

ZEUS stock traded up $0.82 during trading on Friday, reaching $30.85. 66,282 shares of the stock traded hands, compared to its average volume of 100,302. The business’s 50 day moving average price is $35.10 and its 200-day moving average price is $27.85. Olympic Steel, Inc. has a 52-week low of $19.92 and a 52-week high of $43.18. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.70 and a quick ratio of 1.54. The firm has a market capitalization of $343.30 million, a PE ratio of 2.54 and a beta of 1.61.

Olympic Steel (NASDAQ:ZEUS – Get Rating) last issued its earnings results on Thursday, May 5th. The basic materials company reported $3.23 earnings per share for the quarter, topping the consensus estimate of $2.16 by $1.07. 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 business earned $1.97 earnings per share. On average, equities research analysts predict that Olympic Steel, Inc. will post 7.02 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st will be given a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.17%. The ex-dividend date of this dividend is Tuesday, May 31st. Olympic Steel’s payout ratio is 3.04%.

Hedge funds and other institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC purchased a new stake in shares of Olympic Steel in the fourth quarter worth about $1,278,000. Barclays PLC lifted its stake in shares of Olympic Steel by 20.8% in the third 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 in the last quarter. KBC Group NV acquired a new position in shares of Olympic Steel in the third quarter worth about $108,000. Victory Capital Management Inc. lifted its stake in shares of Olympic Steel by 131.8% in the third quarter. Victory Capital Management Inc. now owns 10,075 shares of the basic materials company’s stock worth $245,000 after acquiring an additional 5,728 shares in the last quarter. Finally, Islay Capital Management LLC acquired a new position in shares of Olympic Steel in the fourth quarter worth about $199,000. 74.62% of the stock is owned by institutional investors.

Separately, StockNews.com raised Olympic Steel from a “hold” rating to a “buy” rating in a research report on Thursday.

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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