Olympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totalling 463,700 shares, an increase of 71.8% from the August 15th total of 269,900 shares. Currently, 4.7% of the company’s stock are short sold. Based on an average daily volume of 109,700 shares, the days-to-cover ratio is presently 4.2 days.
Analyst Upgrades and Downgrades
Separately, StockNews.com cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Wednesday, September 4th.
Read Our Latest Research Report on ZEUS
Institutional Inflows and Outflows
Olympic Steel Stock Performance
Shares of ZEUS stock opened at $38.60 on Friday. The company has a market capitalization of $429.62 million, a price-to-earnings ratio of 10.29 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.43 and a current ratio of 3.77. Olympic Steel has a 52 week low of $34.81 and a 52 week high of $73.49. The company has a 50-day simple moving average of $42.66 and a 200 day simple moving average of $53.17.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last announced its earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. The company had revenue of $526.25 million during the quarter. During the same period in the previous year, the firm posted $1.24 EPS.
Olympic Steel Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Monday, September 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Friday, August 30th. Olympic Steel’s dividend payout ratio is currently 16.00%.
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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