Olympic Steel, Inc. (NASDAQ:ZEUS – Get Free Report) saw a significant decline in short interest in the month of August. As of August 31st, there was short interest totaling 209,700 shares, a decline of 25.8% from the August 15th total of 282,600 shares. Based on an average daily trading volume, of 68,400 shares, the days-to-cover ratio is currently 3.1 days. Currently, 2.1% of the company’s shares are short sold. Currently, 2.1% of the company’s shares are short sold. Based on an average daily trading volume, of 68,400 shares, the days-to-cover ratio is currently 3.1 days.
Institutional Investors Weigh In On Olympic Steel
Several institutional investors and hedge funds have recently added to or reduced their stakes in ZEUS. Northern Trust Corp boosted its holdings in Olympic Steel by 13.7% in the fourth quarter. Northern Trust Corp now owns 114,270 shares of the basic materials company’s stock worth $3,749,000 after purchasing an additional 13,745 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Olympic Steel by 62.2% in the fourth quarter. Ameriprise Financial Inc. now owns 43,347 shares of the basic materials company’s stock worth $1,422,000 after purchasing an additional 16,624 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in Olympic Steel by 13.8% in the fourth quarter. BNP Paribas Financial Markets now owns 25,120 shares of the basic materials company’s stock worth $824,000 after purchasing an additional 3,039 shares during the last quarter. Deutsche Bank AG boosted its stake in shares of Olympic Steel by 60.7% during the 4th quarter. Deutsche Bank AG now owns 9,984 shares of the basic materials company’s stock worth $328,000 after acquiring an additional 3,770 shares during the last quarter. Finally, Nuveen Asset Management LLC boosted its stake in shares of Olympic Steel by 5.7% during the 4th quarter. Nuveen Asset Management LLC now owns 173,490 shares of the basic materials company’s stock worth $5,692,000 after acquiring an additional 9,316 shares during the last quarter. Hedge funds and other institutional investors own 87.07% of the company’s stock.
Get Olympic Steel alerts:
Analysts Set New Price Targets
ZEUS has been the topic of several research analyst reports. Wall Street Zen cut shares of Olympic Steel from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. KeyCorp reduced their price target on shares of Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy” and an average price target of $38.00.
View Our Latest Stock Report on ZEUS
Olympic Steel Trading Up 1.5%
NASDAQ:ZEUS opened at $33.38 on Friday. The stock has a market cap of $373.86 million, a price-to-earnings ratio of 27.36 and a beta of 1.77. The company’s 50 day moving average price is $32.82 and its 200-day moving average price is $32.03. Olympic Steel has a 52 week low of $26.32 and a 52 week high of $43.60. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40.
Olympic Steel (NASDAQ:ZEUS – Get Free Report) last issued its earnings results on Thursday, July 31st. The basic materials company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.59 by ($0.09). Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%.The company had revenue of $496.48 million during the quarter, compared to analysts’ expectations of $506.60 million. On average, equities research analysts forecast that Olympic Steel will post 2.69 earnings per share for the current fiscal year.
Olympic Steel Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were issued a $0.16 dividend. The ex-dividend date was Tuesday, September 2nd. This represents a $0.64 annualized dividend and a yield of 1.9%. Olympic Steel’s dividend payout ratio (DPR) is currently 52.46%.
About Olympic Steel
(Get Free Report)
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.
Read More
Five stocks we like better than Olympic Steel
P/E Ratio Calculation: How to Assess Stocks
Why Seagate Is Wall Street’s New Favorite AI Infrastructure Play
Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
3 AI Infrastructure Stocks With Upside After the Summer Rally
Trading Stocks: RSI and Why it’s Useful
Can Advantage2 Help Overcome D-Wave’s Share Price Plateau?