Insider Selling: Olympic Steel, Inc. (NASDAQ:ZEUS) Insider Sells 10,059 Shares of Stock

Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) insider David A. Wolfort sold 10,059 shares of the business’s stock in a transaction dated Wednesday, May 25th. The stock was sold at an average price of $34.68, for a total value of $348,846.12. Following the sale, the insider now directly owns 184,064 shares of the company’s stock, valued at $6,383,339.52. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of ZEUS stock traded down $0.06 on Friday, reaching $36.34. The company had a trading volume of 75,454 shares, compared to its average volume of 100,598. 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 $404.39 million, a PE ratio of 3.07 and a beta of 1.61. The company has a 50-day moving average of $35.64 and a 200-day moving average of $28.32. Olympic Steel, Inc. has a 12 month low of $19.92 and a 12 month high of $43.18.

Olympic Steel (NASDAQ:ZEUS – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The basic materials company reported $3.10 EPS for the quarter, beating analysts’ consensus estimates of $2.26 by $0.84. The company had revenue of $696.33 million during the quarter, compared to analysts’ expectations of $548.40 million. Olympic Steel had a return on equity of 36.01% and a net margin of 5.36%. During the same period in the prior year, the business posted $1.97 EPS. Sell-side analysts anticipate that Olympic Steel, Inc. will post 7.02 earnings per share 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 given a $0.09 dividend. The ex-dividend date is Tuesday, May 31st. This represents a $0.36 annualized dividend and a dividend yield of 0.99%. Olympic Steel’s dividend payout ratio is presently 3.04%.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Quantbot Technologies LP grew its position in shares of Olympic Steel by 42.1% in the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 337 shares during the period. Ellevest Inc. grew its position in shares of Olympic Steel by 86.9% in the 1st quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 502 shares during the period. Rhumbline Advisers grew its position in shares of Olympic Steel by 1.9% in the 4th quarter. Rhumbline Advisers now owns 27,401 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 519 shares during the period. State of Tennessee Treasury Department grew its position in shares of Olympic Steel by 17.8% in the 1st 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 period. Finally, Voya Investment Management LLC grew its position in shares of Olympic Steel by 2.5% in the 3rd 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 period. Institutional investors and hedge funds own 74.62% of the company’s stock.

Separately, StockNews.com raised Olympic Steel from a “hold” rating to a “buy” rating in a report on Friday, May 20th.

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.

Further Reading