Olympic Steel, Inc. (NASDAQ:ZEUS – Free Report) – Equities researchers at KeyCorp issued their FY2024 earnings estimates for shares of Olympic Steel in a research report issued on Tuesday, January 21st. KeyCorp analyst P. Gibbs expects that the basic materials company will post earnings per share of $1.70 for the year. KeyCorp currently has a “Overweight” rating and a $42.00 target price on the stock. The consensus estimate for Olympic Steel’s current full-year earnings is $1.55 per share. KeyCorp also issued estimates for Olympic Steel’s FY2025 earnings at $2.40 EPS.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $0.11 EPS for the quarter. The business had revenue of $470.00 million during the quarter. Olympic Steel had a net margin of 1.32% and a return on equity of 3.79%.
Get Our Latest Analysis on Olympic Steel
Olympic Steel Stock Up 2.3 %
Shares of NASDAQ:ZEUS opened at $35.40 on Friday. The firm has a market capitalization of $394.00 million, a P/E ratio of 15.53 and a beta of 1.53. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The stock has a 50 day moving average price of $36.76 and a 200-day moving average price of $39.33. Olympic Steel has a 52-week low of $30.29 and a 52-week high of $73.49.
Olympic Steel Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 2nd were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend was Monday, December 2nd. Olympic Steel’s dividend payout ratio (DPR) is presently 26.32%.
Hedge Funds Weigh In On Olympic Steel
Several large investors have recently made changes to their positions in the business. Janney Montgomery Scott LLC increased its position in Olympic Steel by 2.0% during the 3rd quarter. Janney Montgomery Scott LLC now owns 30,120 shares of the basic materials company’s stock valued at $1,175,000 after buying an additional 578 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Olympic Steel in the third quarter worth $27,000. Wedge Capital Management L L P NC increased its holdings in shares of Olympic Steel by 2.9% during the fourth quarter. Wedge Capital Management L L P NC now owns 25,374 shares of the basic materials company’s stock valued at $833,000 after acquiring an additional 705 shares in the last quarter. Public Sector Pension Investment Board raised its position in shares of Olympic Steel by 6.2% in the 2nd quarter. Public Sector Pension Investment Board now owns 21,595 shares of the basic materials company’s stock worth $968,000 after purchasing an additional 1,260 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its position in shares of Olympic Steel by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 27,214 shares of the basic materials company’s stock worth $893,000 after purchasing an additional 1,432 shares during the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.
Olympic Steel Company Profile
Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.
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