Key Points
- COO Andrew Greiff sold 3,000 shares on Sept. 10 at an average price of $32.80 for $98,400, reducing his stake by 15.37% to 16,518 shares (valued at about $541,790), per an SEC filing.
- Q3 results missed EPS but topped revenue: Olympic Steel reported $0.19 EPS vs. $0.25 consensus and revenue of $490.66 million (vs. $476.20M expected), with a net margin of 0.73% and ROE of 2.11%.
- The company trades with a market cap of $479.14 million and a PE of 36.56, pays a quarterly dividend of $0.16 (annualized $0.64, 1.5% yield), and carries a consensus analyst rating of Hold with an average target of $38.00; institutional investors own about 87% of the stock.
Olympic Steel, Inc. (NASDAQ:ZEUS - Get Free Report) COO Andrew Greiff sold 3,000 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $32.80, for a total value of $98,400.00. Following the sale, the chief operating officer directly owned 16,518 shares in the company, valued at $541,790.40. This represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
Olympic Steel Trading Down 1.5%
NASDAQ:ZEUS opened at $42.78 on Thursday. Olympic Steel, Inc. has a 12-month low of $26.32 and a 12-month high of $45.40. The firm has a market cap of $479.14 million, a PE ratio of 36.56 and a beta of 1.71. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The stock has a fifty day moving average price of $38.10 and a 200 day moving average price of $34.11.
Olympic Steel (NASDAQ:ZEUS - Get Free Report) last posted its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.06). Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. The company had revenue of $490.66 million during the quarter, compared to analyst estimates of $476.20 million. Sell-side analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current fiscal year.
Olympic Steel Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Shareholders of record on Monday, December 1st were given 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 1.5%. Olympic Steel's dividend payout ratio is currently 54.70%.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "sell (d+)" rating on shares of Olympic Steel in a research note on Monday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $38.00.
View Our Latest Research Report on Olympic Steel
Institutional Investors Weigh In On Olympic Steel
A number of institutional investors and hedge funds have recently bought and sold shares of ZEUS. EverSource Wealth Advisors LLC grew its holdings in shares of Olympic Steel by 823.3% during the second quarter. EverSource Wealth Advisors LLC now owns 831 shares of the basic materials company's stock worth $27,000 after purchasing an additional 741 shares during the last quarter. Quarry LP acquired a new stake in shares of Olympic Steel in the 3rd quarter valued at about $27,000. Strs Ohio acquired a new stake in shares of Olympic Steel in the 3rd quarter valued at about $58,000. CoreCap Advisors LLC lifted its stake in Olympic Steel by 41.2% in the third quarter. CoreCap Advisors LLC now owns 3,669 shares of the basic materials company's stock valued at $112,000 after buying an additional 1,071 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Olympic Steel in the third quarter valued at approximately $142,000. 87.07% of the stock is owned by hedge funds and other institutional investors.
Olympic Steel Company Profile
(
Get Free Report)
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.
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