Olympic Steel (NASDAQ:ZEUS) Stock Crosses Above 200 Day Moving Average – What’s Next?

Olympic Steel, Inc. (NASDAQ:ZEUS)’s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $35.50 and traded as high as $50.59. Olympic Steel shares last traded at $48.97, with a volume of 119,302 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Olympic Steel from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.00.

Olympic Steel Price Performance

The stock’s 50 day simple moving average is $41.60 and its 200-day simple moving average is $35.50. The firm has a market cap of $548.46 million, a price-to-earnings ratio of 41.86 and a beta of 1.74. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.17 and a current ratio of 3.12.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $490.66 million for the quarter, compared to analysts’ expectations of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. Equities research analysts anticipate that Olympic Steel, Inc. will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.16 dividend. The ex-dividend date of this dividend was Monday, December 1st. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.3%. Olympic Steel’s dividend payout ratio is currently 54.70%.

Insider Activity at Olympic Steel

In related news, COO Andrew S. Greiff sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $40.42, for a total value of $181,890.00. Following the sale, the chief operating officer owned 12,018 shares in the company, valued at $485,767.56. This represents a 27.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 13.80% of the stock is owned by company insiders.

Institutional Trading of Olympic Steel

Several institutional investors and hedge funds have recently bought and sold shares of ZEUS. Daymark Wealth Partners LLC acquired a new position in shares of Olympic Steel in the 4th quarter valued at $257,000. Quarry LP purchased a new position in Olympic Steel in the third quarter valued at $27,000. Mariner LLC raised its position in shares of Olympic Steel by 35.6% in the third quarter. Mariner LLC now owns 11,065 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 2,903 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olympic Steel during the 3rd quarter valued at about $142,000. Finally, Invenomic Capital Management LP acquired a new stake in shares of Olympic Steel during the 3rd quarter valued at about $6,191,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one?stop source for metals procurement, providing both standard inventory offerings and custom?cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value?added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.