Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) – Stock analysts at KeyCorp lifted their Q1 2022 earnings per share (EPS) estimates for Olympic Steel in a report issued on Tuesday, April 19th. KeyCorp analyst P. Gibbs now forecasts that the basic materials company will post earnings of $2.41 per share for the quarter, up from their prior estimate of $2.35.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last released its earnings results on Thursday, February 24th. The basic materials company reported $2.79 earnings per share for the quarter. The firm had revenue of $624.59 million during the quarter. Olympic Steel had a net margin of 5.24% and a return on equity of 35.85%. During the same period in the prior year, the firm earned $0.14 EPS.
Olympic Steel stock opened at $39.70 on Thursday. The firm has a market cap of $441.62 million, a price-to-earnings ratio of 3.77 and a beta of 1.63. The company has a debt-to-equity ratio of 0.77, a current ratio of 3.52 and a quick ratio of 1.36. Olympic Steel has a fifty-two week low of $19.92 and a fifty-two week high of $43.18. The firm has a fifty day moving average price of $33.03 and a two-hundred day moving average price of $26.98.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 15th. Stockholders of record on Tuesday, March 1st were issued a dividend of $0.09 per share. This is an increase from Olympic Steel’s previous quarterly dividend of $0.02. The ex-dividend date of this dividend was Monday, February 28th. This represents a $0.36 annualized dividend and a dividend yield of 0.91%. Olympic Steel’s payout ratio is presently 3.42%.
In related news, insider David A. Wolfort sold 45,351 shares of the company’s stock in a transaction dated Thursday, March 10th. The shares were sold at an average price of $30.99, for a total value of $1,405,427.49. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew S. Greiff bought 2,500 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was acquired at an average cost of $28.79 per share, for a total transaction of $71,975.00. The disclosure for this purchase can be found here. Insiders own 15.73% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC acquired a new position in shares of Olympic Steel during the second quarter worth approximately $201,000. Morgan Stanley lifted its position in shares of Olympic Steel by 54.0% during the second quarter. Morgan Stanley now owns 218,385 shares of the basic materials company’s stock worth $6,418,000 after purchasing an additional 76,600 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of Olympic Steel by 17.2% during the third quarter. Janney Montgomery Scott LLC now owns 15,391 shares of the basic materials company’s stock worth $375,000 after purchasing an additional 2,260 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Olympic Steel during the third quarter worth approximately $311,000. Finally, Victory Capital Management Inc. lifted its position in shares of Olympic Steel by 131.8% during the third quarter. Victory Capital Management Inc. now owns 10,075 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 5,728 shares in the last quarter. Hedge funds and other institutional investors own 72.95% of the company’s stock.
Olympic Steel Company Profile (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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