Andrew Greiff Sells 4,500 Shares of Olympic Steel (NASDAQ:ZEUS) Stock

Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew Greiff sold 4,500 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $40.42, for a total value of $181,890.00. Following the transaction, the chief operating officer owned 12,018 shares of the company’s stock, valued at approximately $485,767.56. The trade was a 27.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Olympic Steel Stock Performance

Shares of Olympic Steel stock opened at $42.78 on Friday. The company has a quick ratio of 1.17, a current ratio of 3.12 and a debt-to-equity ratio of 0.42. The stock’s fifty day moving average is $38.37 and its two-hundred day moving average is $34.17. Olympic Steel, Inc. has a 52 week low of $26.32 and a 52 week high of $45.40. The company has a market capitalization of $479.14 million, a PE ratio of 36.56 and a beta of 1.74.

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

Olympic Steel Dividend Announcement

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

Analysts Set New Price Targets

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

Institutional Investors Weigh In On Olympic Steel

A number of hedge funds have recently made changes to their positions in ZEUS. Quarry LP bought a new stake in Olympic Steel during the third quarter valued at about $27,000. Mariner LLC lifted its position in shares of Olympic Steel by 35.6% during the third quarter. Mariner LLC now owns 11,065 shares of the basic materials company’s stock valued at $337,000 after buying an additional 2,903 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of Olympic Steel in the 3rd quarter valued at about $142,000. Invenomic Capital Management LP bought a new stake in shares of Olympic Steel in the 3rd quarter valued at about $6,191,000. Finally, Alliancebernstein L.P. grew its position in shares of Olympic Steel by 58.1% in the 3rd quarter. Alliancebernstein L.P. now owns 86,890 shares of the basic materials company’s stock worth $2,646,000 after buying an additional 31,940 shares during the last quarter. 87.07% of the stock is currently owned by hedge funds and other institutional investors.

Olympic Steel Company Profile

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.