Olympic Steel (NASDAQ:ZEUS) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Olympic Steel (NASDAQ:ZEUS) from a hold rating to a buy rating in a research note released on Saturday morning.

Separately, KeyCorp reduced their price target on shares of Olympic Steel from $43.00 to $41.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th.

Olympic Steel Stock Down 3.3%

Shares of ZEUS opened at $30.46 on Friday. Olympic Steel has a 12 month low of $26.32 and a 12 month high of $44.01. The firm’s 50 day moving average is $32.35 and its 200-day moving average is $32.52. The stock has a market capitalization of $340.02 million, a PE ratio of 24.97 and a beta of 1.72. The company has a current ratio of 3.07, a quick ratio of 1.18 and a debt-to-equity ratio of 0.40.

Olympic Steel (NASDAQ:ZEUS) last announced its earnings results on Thursday, July 31st. The basic materials company reported $0.50 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 business had revenue of $496.48 million for the quarter, compared to the consensus estimate of $506.60 million. Equities research analysts forecast that Olympic Steel will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Shareholders of record on Tuesday, September 2nd will be paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend is Tuesday, September 2nd. Olympic Steel’s payout ratio is 52.46%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ZEUS. Versant Capital Management Inc grew its holdings in shares of Olympic Steel by 178.7% during the first quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company’s stock valued at $29,000 after buying an additional 586 shares during the last quarter. New Age Alpha Advisors LLC boosted its holdings in Olympic Steel by 33.6% during the first quarter. New Age Alpha Advisors LLC now owns 2,406 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 605 shares during the last quarter. CWM LLC boosted its holdings in Olympic Steel by 170.5% during the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock worth $78,000 after purchasing an additional 1,552 shares during the last quarter. Quantbot Technologies LP boosted its holdings in Olympic Steel by 20.1% during the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company’s stock worth $156,000 after purchasing an additional 830 shares during the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Olympic Steel during the first quarter worth about $179,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Company Profile

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.