Olympic Steel Inc. (ZEUS) Reaches New 12-Month High at $28.25
Shares of Olympic Steel Inc. (NASDAQ:ZEUS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $28.25 and last traded at $28.04, with a volume of 80,237 shares changing hands. The stock had previously closed at $27.16.
Several analysts have commented on the stock. TheStreet raised shares of Olympic Steel from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Jefferies Group restated a “hold” rating and set a $25.00 price objective (up previously from $20.00) on shares of Olympic Steel in a report on Friday, June 10th. Finally, Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a report on Saturday, May 7th.
The stock’s 50-day moving average is $25.32 and its 200-day moving average is $17.20. The company’s market cap is $305.98 million.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Friday, April 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.08. The company earned $258.30 million during the quarter, compared to analysts’ expectations of $251.82 million. During the same quarter in the previous year, the business posted $0.10 EPS. The business’s quarterly revenue was down 25.3% compared to the same quarter last year. Analysts forecast that Olympic Steel Inc. will post $0.92 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.29%. The ex-dividend date of this dividend was Friday, May 27th.
An institutional investor recently raised its position in Olympic Steel stock. Heartland Advisors Inc. increased its stake in shares of Olympic Steel Inc. (NASDAQ:ZEUS) by 11.2% during the fourth quarter, Holdings Channel reports. The fund owned 400,000 shares of the company’s stock after buying an additional 40,401 shares during the period. Heartland Advisors Inc. owned 3.64% of Olympic Steel worth $4,632,000 as of its most recent SEC filing.
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates in two segments: flat products, and tubular and pipe products. The Company’s primary flat products focus is on the direct sale and distribution of processed carbon, coated, aluminum and stainless flat-rolled sheet, coil and plate products.
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