Insider Selling: Olympic Steel, Inc. (NASDAQ:ZEUS) Insider Sells 4,540 Shares of Stock

Olympic Steel, Inc. (NASDAQ:ZEUSGet Rating) insider David A. Wolfort sold 4,540 shares of the company’s stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $31.43, for a total value of $142,692.20. Following the completion of the transaction, the insider now directly owns 242,636 shares of the company’s stock, valued at approximately $7,626,049.48. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

ZEUS stock opened at $30.35 on Thursday. Olympic Steel, Inc. has a 1-year low of $19.92 and a 1-year high of $43.18. The firm has a market cap of $337.61 million, a P/E ratio of 2.56 and a beta of 1.61. The business’s 50 day moving average is $35.18 and its 200-day moving average is $27.83. The company has a current ratio of 3.52, a quick ratio of 1.36 and a debt-to-equity ratio of 0.77.

Olympic Steel (NASDAQ:ZEUSGet Rating) last announced its quarterly earnings data on Thursday, May 5th. The basic materials company reported $3.23 EPS for the quarter, beating analysts’ consensus estimates of $2.16 by $1.07. Olympic Steel had a return on equity of 37.63% and a net margin of 5.36%. During the same period last year, the business posted $1.97 EPS. Sell-side analysts forecast that Olympic Steel, Inc. will post 4.22 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 15th. Investors of record on Wednesday, June 1st will be paid a dividend of $0.09 per share. This represents a $0.36 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, May 31st. Olympic Steel’s payout ratio is presently 3.04%.

Separately, StockNews.com raised Olympic Steel from a “hold” rating to a “buy” rating in a report on Thursday.

A number of institutional investors have recently modified their holdings of ZEUS. Invesco Ltd. raised its stake in Olympic Steel by 92.5% during the 4th quarter. Invesco Ltd. now owns 703,442 shares of the basic materials company’s stock worth $16,531,000 after buying an additional 338,049 shares during the period. Assenagon Asset Management S.A. bought a new position in Olympic Steel during the 4th quarter worth about $3,803,000. Putnam Investments LLC increased its holdings in Olympic Steel by 181.3% during the 3rd quarter. Putnam Investments LLC now owns 129,420 shares of the basic materials company’s stock worth $3,153,000 after purchasing an additional 83,420 shares in the last quarter. Morgan Stanley increased its holdings in Olympic Steel by 54.0% during the 2nd quarter. Morgan Stanley now owns 218,385 shares of the basic materials company’s stock worth $6,418,000 after purchasing an additional 76,600 shares in the last quarter. Finally, MAI Capital Management bought a new position in Olympic Steel during the 4th quarter worth about $1,613,000. 74.62% of the stock is currently owned by institutional investors and hedge funds.

About Olympic Steel (Get Rating)

Olympic Steel, Inc processes, distributes, and storage metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.

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Insider Buying and Selling by Quarter for Olympic Steel (NASDAQ:ZEUS)

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