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Olympic Steel (NASDAQ:ZEUS - Get Rating) was downgraded by research analysts at StockNews.com from a "buy" rating to a "hold" rating in a report released on Friday.Olympic Steel Stock Performance
NASDAQ:ZEUS traded up $0.20 during mid-day trading on Friday, hitting $30.73. The stock had a trading volume of 77,210 shares, compared to its average volume of 94,083. Olympic Steel has a twelve month low of $19.92 and a twelve month high of $43.18. The stock has a market cap of $341.96 million, a price-to-earnings ratio of 2.60 and a beta of 1.71. The company's 50 day simple moving average is $28.74 and its 200 day simple moving average is $30.24. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.54 and a current ratio of 3.70.
Olympic Steel (NASDAQ:ZEUS - Get Rating) last issued its earnings results on Thursday, May 5th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.26 by $0.84. The business had revenue of $696.33 million during the quarter, compared to the consensus estimate of $548.40 million. Olympic Steel had a net margin of 5.36% and a return on equity of 36.01%. During the same period last year, the business posted $1.97 EPS. On average, equities research analysts forecast that Olympic Steel will post 7.77 earnings per share for the current year. Insider Transactions at Olympic Steel
In other news, insider David A. Wolfort sold 2,700 shares of the firm's stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $31.14, for a total transaction of $84,078.00. Following the transaction, the insider now directly owns 238,686 shares of the company's stock, valued at $7,432,682.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider David A. Wolfort sold 2,700 shares of the firm's stock in a transaction that occurred on Wednesday, May 11th. The shares were sold at an average price of $31.14, for a total transaction of $84,078.00. Following the transaction, the insider now directly owns 238,686 shares of the company's stock, valued at $7,432,682.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David A. Wolfort sold 4,540 shares of Olympic Steel stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $31.43, for a total transaction of $142,692.20. Following the completion of the transaction, the insider now directly owns 242,636 shares in the company, valued at $7,626,049.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 63,049 shares of company stock valued at $2,165,001. 17.40% of the stock is currently owned by company insiders. Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in ZEUS. Quantbot Technologies LP boosted its position in Olympic Steel by 42.1% in the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company's stock valued at $43,000 after buying an additional 337 shares in the last quarter. Ellevest Inc. boosted its position in Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company's stock valued at $42,000 after buying an additional 502 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Olympic Steel by 2.7% in the second quarter. Janney Montgomery Scott LLC now owns 19,490 shares of the basic materials company's stock valued at $511,000 after buying an additional 510 shares in the last quarter. State of Tennessee Treasury Department boosted its position in Olympic Steel by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 3,447 shares of the basic materials company's stock valued at $133,000 after buying an additional 522 shares in the last quarter. Finally, Zebra Capital Management LLC boosted its position in Olympic Steel by 5.7% in the first quarter. Zebra Capital Management LLC now owns 13,046 shares of the basic materials company's stock valued at $502,000 after buying an additional 698 shares in the last quarter. 74.62% of the stock is owned by institutional investors. About Olympic Steel (Get Rating)
Olympic Steel, Inc processes, distributes, and storage metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.Recommended StoriesGet a free copy of the StockNews.com research report on Olympic Steel (ZEUS)How to Use High Beta Stocks to Maximize Your Investing ProfitsCronos Group Inc's Revenues Are Up, Is It Time to Buy?Beyond Meat Is Not Beyond Hope, And It's CheapWhy Apple Could Be At All-Time Highs By Year EndBJ’s Wholesale Club Stock Has More Room to Grow
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