Olympic Steel, Inc. (NASDAQ:ZEUS) Director Acquires $45,200.00 in Stock

Olympic Steel, Inc. (NASDAQ:ZEUS) Director Richard P. Stovsky acquired 5,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was purchased at an average cost of $9.04 per share, for a total transaction of $45,200.00.

Olympic Steel stock traded up $0.93 during midday trading on Tuesday, hitting $9.32. 161,200 shares of the company’s stock were exchanged, compared to its average volume of 63,279. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.61 and a current ratio of 4.04. The company has a market cap of $92.17 million, a PE ratio of 45.40 and a beta of 1.61. The firm has a 50-day moving average of $9.15 and a two-hundred day moving average of $13.46. Olympic Steel, Inc. has a 12 month low of $7.74 and a 12 month high of $18.41.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Friday, May 1st. The basic materials company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.01. The firm had revenue of $354.38 million during the quarter, compared to analysts’ expectations of $391.90 million. Olympic Steel had a net margin of 0.16% and a negative return on equity of 0.16%. As a group, equities analysts expect that Olympic Steel, Inc. will post -0.05 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Monday, June 1st will be given a dividend of $0.02 per share. The ex-dividend date is Friday, May 29th. This represents a $0.08 annualized dividend and a yield of 0.86%. Olympic Steel’s dividend payout ratio (DPR) is presently 72.73%.

Separately, Zacks Investment Research lowered Olympic Steel from a “hold” rating to a “sell” rating in a research report on Saturday.

Large investors have recently made changes to their positions in the company. Advisors Preferred LLC bought a new position in shares of Olympic Steel in the 4th quarter worth $27,000. State of Alaska Department of Revenue raised its holdings in Olympic Steel by 22.9% in the first quarter. State of Alaska Department of Revenue now owns 8,467 shares of the basic materials company’s stock worth $87,000 after purchasing an additional 1,580 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of Olympic Steel by 49.1% during the fourth quarter. Meeder Asset Management Inc. now owns 10,593 shares of the basic materials company’s stock valued at $189,000 after buying an additional 3,489 shares during the last quarter. Great West Life Assurance Co. Can bought a new stake in shares of Olympic Steel in the 4th quarter valued at about $201,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Olympic Steel by 18.8% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 20,409 shares of the basic materials company’s stock worth $211,000 after acquiring an additional 3,230 shares in the last quarter. Institutional investors and hedge funds own 67.75% of the company’s stock.

About Olympic Steel

Olympic Steel, Inc processes and distributes 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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