Olympic Steel (NASDAQ:ZEUS) Stock Rating Lowered by StockNews.com

StockNews.com downgraded shares of Olympic Steel (NASDAQ:ZEUS) from a buy rating to a hold rating in a research note published on Saturday morning.

Separately, KeyCorp upped their target price on shares of Olympic Steel from $42.00 to $43.00 and gave the company an “overweight” rating in a research report on Monday, February 24th.

Olympic Steel Stock Performance

Olympic Steel stock opened at $33.22 on Friday. The company has a current ratio of 3.52, a quick ratio of 1.26 and a debt-to-equity ratio of 0.35. Olympic Steel has a 1 year low of $30.29 and a 1 year high of $73.27. The company has a market cap of $369.94 million, a PE ratio of 16.86 and a beta of 1.52. The company’s 50-day moving average is $34.12 and its two-hundred day moving average is $37.49.

Olympic Steel (NASDAQ:ZEUS) last released its earnings results on Thursday, February 20th. The basic materials company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. The company had revenue of $418.78 million for the quarter, compared to the consensus estimate of $441.60 million. Equities analysts anticipate that Olympic Steel will post 2.69 earnings per share for the current year.

Olympic Steel Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Monday, March 3rd will be given a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.93%. This is an increase from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date is Monday, March 3rd. Olympic Steel’s dividend payout ratio (DPR) is currently 32.49%.

Institutional Trading of Olympic Steel

A number of hedge funds have recently modified their holdings of ZEUS. Jane Street Group LLC raised its position in shares of Olympic Steel by 1,165.8% in the 3rd quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock valued at $7,884,000 after acquiring an additional 186,192 shares during the period. JPMorgan Chase & Co. raised its position in shares of Olympic Steel by 136.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock valued at $8,365,000 after acquiring an additional 123,632 shares during the period. Walleye Capital LLC acquired a new stake in shares of Olympic Steel in the 3rd quarter valued at approximately $3,978,000. Barclays PLC raised its position in shares of Olympic Steel by 648.0% in the 4th quarter. Barclays PLC now owns 116,182 shares of the basic materials company’s stock valued at $3,812,000 after acquiring an additional 100,650 shares during the period. Finally, Norges Bank acquired a new stake in shares of Olympic Steel in the 4th quarter valued at approximately $3,035,000. 87.07% of the stock is currently owned by institutional investors and hedge funds.

About Olympic Steel

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.