Olympic Steel (NASDAQ:ZEUS) Cut to Hold at StockNews.com

StockNews.com lowered shares of Olympic Steel (NASDAQ:ZEUS) from a buy rating to a hold rating in a research note issued to investors on Saturday morning.

Separately, KeyCorp upped their price objective on shares of Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Olympic Steel Price Performance

Olympic Steel stock opened at $32.59 on Friday. The firm has a market capitalization of $362.92 million, a P/E ratio of 16.54 and a beta of 1.52. Olympic Steel has a 1 year low of $30.29 and a 1 year high of $73.27. The business has a 50-day moving average of $34.12 and a 200-day moving average of $37.45. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The firm had revenue of $418.78 million during the quarter, compared to analysts’ expectations of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. On average, equities analysts anticipate that Olympic Steel will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be paid a dividend of $0.16 per share. This represents a $0.64 dividend on an annualized basis and a yield of 1.96%. This is a boost from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, March 3rd. Olympic Steel’s dividend payout ratio is presently 32.49%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC raised its holdings in shares of Olympic Steel by 2.0% during the third quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock worth $1,175,000 after acquiring an additional 578 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Olympic Steel by 2.9% in the 4th quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock valued at $833,000 after purchasing an additional 705 shares during the period. Los Angeles Capital Management LLC raised its stake in shares of Olympic Steel by 11.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 7,517 shares of the basic materials company’s stock valued at $247,000 after purchasing an additional 770 shares during the period. Van ECK Associates Corp lifted its holdings in shares of Olympic Steel by 3.7% in the fourth quarter. Van ECK Associates Corp now owns 22,080 shares of the basic materials company’s stock valued at $724,000 after purchasing an additional 780 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Olympic Steel by 6.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 13,891 shares of the basic materials company’s stock worth $456,000 after buying an additional 839 shares during the period. Institutional investors own 87.07% of the company’s stock.

Olympic Steel Company Profile

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.