Olympic Steel Inc. (ZEUS) Hits New 1-Year High at $29.91
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $29.91 and last traded at $29.41, with a volume of 54,568 shares changing hands. The stock had previously closed at $29.37.
Several brokerages have weighed in on ZEUS. Zacks Investment Research raised Olympic Steel from a “hold” rating to a “buy” rating and set a $24.00 price objective for the company in a report on Saturday, May 7th. TheStreet raised Olympic Steel from a “sell” rating to a “hold” rating in a report on Tuesday, June 28th. Finally, Jefferies Group reissued a “hold” rating and set a $25.00 price objective (up from $20.00) on shares of Olympic Steel in a report on Friday, June 10th.
The firm’s 50-day moving average is $26.04 and its 200 day moving average is $17.73. The stock’s market capitalization is $325.48 million.
Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Friday, April 29th. The company reported ($0.07) EPS for the quarter, topping 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 firm earned $0.10 EPS. The firm’s revenue for the quarter was down 25.3% compared to the same quarter last year. On average, equities research analysts predict that Olympic Steel Inc. will post $0.92 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Shareholders of record on Wednesday, June 1st were paid a $0.02 dividend. This represents a $0.08 annualized dividend and a 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. increased its stake in Olympic Steel Inc. (NASDAQ:ZEUS) by 11.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 400,000 shares of the company’s stock after buying an additional 40,401 shares during the period. Heartland Advisors Inc. owned about 3.64% of Olympic Steel worth $4,632,000 at the end of the most recent quarter.
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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