Olympic Steel (NASDAQ:ZEUS) Cut to “Sell (D+)” at Weiss Ratings

Weiss Ratings lowered shares of Olympic Steel (NASDAQ:ZEUS) from a hold (c-) rating to a sell (d+) rating in a research report sent to investors on Friday,Weiss Ratings reports.

A number of other equities analysts also recently commented on the stock. Wall Street Zen downgraded shares of Olympic Steel from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. KeyCorp dropped their target price on Olympic Steel from $40.00 to $38.00 and set an “overweight” rating on the stock in a report on Wednesday, August 6th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $38.00.

Olympic Steel Price Performance

Shares of ZEUS opened at $29.35 on Friday. The company has a quick ratio of 1.18, a current ratio of 3.07 and a debt-to-equity ratio of 0.40. Olympic Steel has a twelve month low of $26.32 and a twelve month high of $43.60. The stock has a market capitalization of $328.72 million, a P/E ratio of 24.06 and a beta of 1.77. The company has a 50 day moving average of $31.32 and a 200-day moving average of $31.72.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). The business had revenue of $496.48 million during the quarter, compared to the consensus estimate of $506.60 million. Olympic Steel had a return on equity of 1.95% and a net margin of 0.77%. As a group, equities research analysts forecast that Olympic Steel will post 2.69 EPS for the current fiscal year.

Olympic Steel Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 15th. Investors of record on Tuesday, September 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a yield of 2.2%. The ex-dividend date was Tuesday, September 2nd. Olympic Steel’s dividend payout ratio (DPR) is 52.46%.

Institutional Trading of Olympic Steel

Several institutional investors and hedge funds have recently bought and sold shares of the business. Federated Hermes Inc. lifted its position in shares of Olympic Steel by 18,931.2% in the first quarter. Federated Hermes Inc. now owns 17,699 shares of the basic materials company’s stock valued at $558,000 after buying an additional 17,606 shares during the last quarter. American Century Companies Inc. raised its stake in Olympic Steel by 5.8% in the 1st quarter. American Century Companies Inc. now owns 349,157 shares of the basic materials company’s stock valued at $11,005,000 after acquiring an additional 19,044 shares during the period. Russell Investments Group Ltd. lifted its holdings in Olympic Steel by 32.0% during the 1st quarter. Russell Investments Group Ltd. now owns 78,577 shares of the basic materials company’s stock valued at $2,477,000 after purchasing an additional 19,039 shares during the last quarter. New Age Alpha Advisors LLC boosted its position 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 period. Finally, CWM LLC increased its holdings in shares of Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company’s stock valued at $78,000 after purchasing an additional 1,552 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.

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.