Olympic Steel (NASDAQ:ZEUS) Upgraded to “Buy” by StockNews.com

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

Olympic Steel Stock Performance

Shares of ZEUS opened at $39.36 on Tuesday. Olympic Steel has a 1 year low of $34.81 and a 1 year high of $73.49. The stock has a market capitalization of $438.08 million, a PE ratio of 10.50 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. The stock has a 50-day simple moving average of $41.32 and a 200-day simple moving average of $51.28.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, August 1st. The basic materials company reported $0.60 EPS 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 period in the prior year, the company posted $1.24 earnings per share.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Monday, September 2nd were issued a $0.15 dividend. The ex-dividend date of this dividend was Friday, August 30th. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.52%. Olympic Steel’s payout ratio is currently 16.00%.

Institutional Investors Weigh In On Olympic Steel

Institutional investors have recently added to or reduced their stakes in the business. EntryPoint Capital LLC acquired a new stake in Olympic Steel during the first quarter worth approximately $61,000. Innealta Capital LLC acquired a new stake in Olympic Steel during the 2nd quarter worth $58,000. Cornerstone Investment Partners LLC purchased a new stake in Olympic Steel in the first quarter valued at $207,000. XTX Topco Ltd acquired a new position in Olympic Steel in the second quarter valued at $201,000. Finally, Harvest Investment Services LLC purchased a new position in shares of Olympic Steel during the fourth quarter worth about $395,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

About Olympic Steel

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.