Olympic Steel, Inc. (ZEUS) Reaches New 1-Year High at $29.91
Olympic Steel, Inc. (NASDAQ:ZEUS)’s share price reached a new 52-week high on Tuesday . The company traded as high as $29.91 and last traded at $29.41, with a volume of 54,568 shares. The stock had previously closed at $29.37.
A number of equities analysts have weighed in on ZEUS shares. Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a report on Thursday, April 28th. Jefferies Group cut Olympic Steel from a “buy” rating to a “hold” rating and set a $16.00 target price for the company. in a research note on Monday, March 21st. Finally, TheStreet upgraded Olympic Steel from a “sell” rating to a “hold” rating in a research note on Tuesday, June 28th.
The company’s 50-day moving average is $25.72 and its 200-day moving average is $17.55. The firm’s market capitalization is $322.25 million.
Olympic Steel (NASDAQ:ZEUS) last posted its quarterly earnings results on Friday, April 29th. The company reported ($0.07) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.08. During the same period last year, the business earned $0.10 earnings per share. The firm had revenue of $258.30 million for the quarter, compared to analysts’ expectations of $251.82 million. The firm’s revenue for the quarter was down 25.3% on a year-over-year basis. On average, equities analysts anticipate that Olympic Steel, Inc. will post $0.92 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Wednesday, June 1st were paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date was Friday, May 27th.
A hedge fund recently raised its stake in Olympic Steel stock. Heartland Advisors Inc. boosted its position in Olympic Steel, Inc. (NASDAQ:ZEUS) by 11.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 filing with the SEC.
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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