Olympic Steel, Inc. (NASDAQ:ZEUS)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a research report issued to clients and investors on Tuesday, September 19th.
ZEUS has been the subject of a number of other reports. Zacks Investment Research upgraded Olympic Steel from a “hold” rating to a “strong-buy” rating and set a $20.00 target price for the company in a research report on Wednesday, August 16th. Jefferies Group LLC restated a “hold” rating on shares of Olympic Steel in a research report on Friday, July 7th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $21.75.
Olympic Steel (NASDAQ ZEUS) opened at 22.00 on Tuesday. The firm’s 50 day moving average price is $17.91 and its 200-day moving average price is $18.45. The company has a market capitalization of $241.27 million, a PE ratio of 28.91 and a beta of 1.72. Olympic Steel has a one year low of $15.83 and a one year high of $28.67.
Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, August 3rd. The basic materials company reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.41 by $0.06. The firm had revenue of $356.20 million during the quarter, compared to the consensus estimate of $365.00 million. Olympic Steel had a return on equity of 2.82% and a net margin of 0.71%. During the same period in the prior year, the company posted $0.32 EPS. Equities analysts forecast that Olympic Steel will post $1.32 earnings per share for the current fiscal year.
In other news, COO Andrew S. Greiff bought 3,500 shares of the company’s stock in a transaction on Tuesday, September 5th. The stock was purchased at an average cost of $17.75 per share, for a total transaction of $62,125.00. Following the completion of the transaction, the chief operating officer now owns 9,021 shares of the company’s stock, valued at $160,122.75. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Richard T. Marabito bought 2,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was purchased at an average price of $17.42 per share, with a total value of $34,840.00. Following the completion of the transaction, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at approximately $533,295.88. The disclosure for this purchase can be found here. 18.29% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd bought a new position in Olympic Steel in the second quarter valued at about $280,000. The Manufacturers Life Insurance Company raised its position in Olympic Steel by 12.6% in the second quarter. The Manufacturers Life Insurance Company now owns 8,349 shares of the basic materials company’s stock valued at $163,000 after purchasing an additional 934 shares during the last quarter. State Street Corp raised its position in Olympic Steel by 5.8% in the second quarter. State Street Corp now owns 234,772 shares of the basic materials company’s stock valued at $4,574,000 after purchasing an additional 12,824 shares during the last quarter. Royal Bank of Canada raised its position in Olympic Steel by 26.8% in the second quarter. Royal Bank of Canada now owns 20,517 shares of the basic materials company’s stock valued at $400,000 after purchasing an additional 4,334 shares during the last quarter. Finally, Balyasny Asset Management LLC bought a new position in Olympic Steel in the second quarter valued at about $1,266,000. Hedge funds and other institutional investors own 68.11% of the company’s stock.
Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.