Olympic Steel Inc. (ZEUS) Stock Price Up 2.8%
Olympic Steel Inc. (NASDAQ:ZEUS)’s share price rose 2.8% on Friday . The company traded as high as $30.26 and last traded at $30.26, with a volume of 226,879 shares. The stock had previously closed at $29.45.
ZEUS has been the topic of a number of recent research reports. Zacks Investment Research upgraded Olympic Steel from a “strong sell” rating to a “hold” rating in a research note on Thursday, April 28th. Jefferies Group lowered Olympic Steel from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. 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 has a 50-day moving average price of $26.38 and a 200-day moving average price of $17.95. The company’s market cap is $331.62 million.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Friday, April 29th. The company reported ($0.07) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.08. The company had revenue of $258.30 million for the quarter, compared to analyst estimates of $251.82 million. During the same quarter last year, the firm posted $0.10 EPS. Olympic Steel’s revenue for the quarter was down 25.3% on a year-over-year basis. Equities research analysts forecast that Olympic Steel Inc. will post $0.92 earnings per share 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 dividend of $0.02 per share. The ex-dividend date was Friday, May 27th. This represents a $0.08 dividend on an annualized basis and a yield of 0.26%.
A hedge fund recently raised its stake in Olympic Steel stock. Morgan Stanley increased its position in shares of Olympic Steel Inc. (NASDAQ:ZEUS) by 572.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 153,492 shares of the company’s stock after buying an additional 130,675 shares during the period. Morgan Stanley owned about 1.40% of Olympic Steel worth $1,778,000 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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