Andrew Greiff Sells 3,000 Shares of Olympic Steel (NASDAQ:ZEUS) Stock

Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew Greiff sold 3,000 shares of Olympic Steel stock in a transaction on Wednesday, September 10th. The shares were sold at an average price of $32.80, for a total value of $98,400.00. Following the completion of the sale, the chief operating officer owned 16,518 shares in the company, valued at $541,790.40. This represents a 15.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Olympic Steel Stock Performance

NASDAQ ZEUS opened at $42.78 on Friday. The stock has a fifty day simple moving average of $38.37 and a 200-day simple moving average of $34.17. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The stock has a market cap of $479.14 million, a PE ratio of 36.56 and a beta of 1.74. Olympic Steel, Inc. has a twelve month low of $26.32 and a twelve month high of $45.40.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Tuesday, October 28th. The basic materials company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.06). The company had revenue of $490.66 million during the quarter, compared to analysts’ expectations of $476.20 million. Olympic Steel had a net margin of 0.73% and a return on equity of 2.11%. Equities analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 15th. Stockholders of record on Monday, December 1st were issued a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, December 1st. Olympic Steel’s dividend payout ratio is currently 54.70%.

Institutional Trading of Olympic Steel

A number of large investors have recently modified their holdings of the stock. Invenomic Capital Management LP acquired a new stake in shares of Olympic Steel in the third quarter valued at $6,191,000. CSM Advisors LLC acquired a new stake in Olympic Steel in the 2nd quarter valued at about $5,964,000. JPMorgan Chase & Co. raised its position in Olympic Steel by 94.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 154,973 shares of the basic materials company’s stock valued at $5,051,000 after purchasing an additional 75,296 shares in the last quarter. AQR Capital Management LLC boosted its stake in shares of Olympic Steel by 47.4% in the 2nd quarter. AQR Capital Management LLC now owns 212,365 shares of the basic materials company’s stock valued at $6,921,000 after buying an additional 68,316 shares during the period. Finally, Profit Investment Management LLC acquired a new position in shares of Olympic Steel during the second quarter worth about $1,552,000. Hedge funds and other institutional investors own 87.07% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (d+)” rating on shares of Olympic Steel in a research report on Monday. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $38.00.

About Olympic Steel

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one‐stop source for metals procurement, providing both standard inventory offerings and custom‐cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value‐added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.