Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) insider David A. Wolfort sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 17th. The shares were sold at an average price of $33.07, for a total transaction of $330,700.00. Following the completion of the transaction, the insider now directly owns 222,446 shares of the company’s stock, valued at $7,356,289.22. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of ZEUS traded up $0.96 during trading hours on Thursday, reaching $34.41. 93,473 shares of the company’s stock traded hands, compared to its average volume of 100,740. Olympic Steel, Inc. has a 12 month low of $19.92 and a 12 month high of $43.18. The company has a current ratio of 3.70, a quick ratio of 1.54 and a debt-to-equity ratio of 0.67. The stock has a market cap of $382.91 million, a PE ratio of 2.83 and a beta of 1.61. The firm’s 50 day simple moving average is $35.24 and its 200-day simple moving average is $28.00.
Olympic Steel (NASDAQ:ZEUS – Get Rating) last posted its quarterly earnings data on Thursday, May 5th. The basic materials company reported $3.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.26 by $0.84. Olympic Steel had a net margin of 5.36% and a return on equity of 36.01%. The company had revenue of $696.33 million during the quarter, compared to the consensus estimate of $548.40 million. During the same period in the previous year, the firm posted $1.97 EPS. As a group, analysts expect that Olympic Steel, Inc. will post 7.02 earnings per share for the current fiscal year.
A number of large investors have recently added to or reduced their stakes in the stock. Quantbot Technologies LP lifted its stake in Olympic Steel by 42.1% in the first quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock worth $43,000 after purchasing an additional 337 shares during the last quarter. Ellevest Inc. lifted its stake in Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 502 shares during the last quarter. Rhumbline Advisers lifted its stake in Olympic Steel by 1.9% in the fourth quarter. Rhumbline Advisers now owns 27,401 shares of the basic materials company’s stock worth $644,000 after purchasing an additional 519 shares during the last quarter. State of Tennessee Treasury Department lifted its position in Olympic Steel by 17.8% in the first quarter. State of Tennessee Treasury Department now owns 3,447 shares of the basic materials company’s stock valued at $133,000 after purchasing an additional 522 shares during the last quarter. Finally, Voya Investment Management LLC lifted its position in Olympic Steel by 2.5% in the third quarter. Voya Investment Management LLC now owns 22,273 shares of the basic materials company’s stock valued at $543,000 after purchasing an additional 549 shares during the last quarter. Institutional investors own 74.62% of the company’s stock.
Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Thursday, May 12th.
Olympic Steel Company Profile (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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