Olympic Steel (NASDAQ:ZEUS) Upgraded at StockNews.com

StockNews.com upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a hold rating to a buy rating in a research note released on Tuesday.

Olympic Steel Stock Up 0.7 %

Shares of NASDAQ:ZEUS opened at $40.28 on Tuesday. The company has a quick ratio of 1.43, a current ratio of 3.77 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $448.44 million, a P/E ratio of 10.74 and a beta of 1.52. Olympic Steel has a 52-week low of $39.08 and a 52-week high of $73.49. The stock’s fifty day simple moving average is $44.08 and its 200-day simple moving average is $55.58.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings results on Thursday, August 1st. The basic materials company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $526.25 million for the quarter. Olympic Steel had a net margin of 1.74% and a return on equity of 4.98%. During the same quarter last year, the business earned $1.24 EPS.

Olympic Steel Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Monday, September 2nd will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend is Friday, August 30th. Olympic Steel’s dividend payout ratio is currently 16.00%.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ZEUS. Vanguard Group Inc. lifted its stake in Olympic Steel by 1.8% during the first quarter. Vanguard Group Inc. now owns 681,512 shares of the basic materials company’s stock worth $48,306,000 after purchasing an additional 12,242 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Olympic Steel by 10.7% in the 2nd quarter. American Century Companies Inc. now owns 279,940 shares of the basic materials company’s stock worth $12,550,000 after buying an additional 27,123 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Olympic Steel by 21.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 141,820 shares of the basic materials company’s stock valued at $6,358,000 after buying an additional 25,201 shares during the period. Renaissance Technologies LLC grew its position in shares of Olympic Steel by 62.0% during the 2nd quarter. Renaissance Technologies LLC now owns 98,798 shares of the basic materials company’s stock valued at $4,429,000 after buying an additional 37,798 shares during the last quarter. Finally, Sei Investments Co. grew its position in shares of Olympic Steel by 5.2% during the 1st quarter. Sei Investments Co. now owns 76,498 shares of the basic materials company’s stock valued at $5,422,000 after buying an additional 3,756 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.

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.