Olympic Steel (NASDAQ:ZEUS) Downgraded by StockNews.com to “Hold”

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 stock an “overweight” rating in a report on Monday, February 24th.

Olympic Steel Trading Up 0.4 %

Shares of ZEUS stock opened at $33.22 on Friday. Olympic Steel has a 52-week low of $30.29 and a 52-week high of $73.27. The stock has a market cap of $369.94 million, a price-to-earnings ratio of 16.86 and a beta of 1.52. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52. The firm has a fifty day moving average of $34.12 and a 200-day moving average of $37.49.

Olympic Steel (NASDAQ:ZEUS) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $441.60 million. On average, equities research analysts forecast that Olympic Steel will post 2.69 earnings per share for the current fiscal year.

Olympic Steel Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be issued a $0.16 dividend. This is a positive change from Olympic Steel’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Monday, March 3rd. This represents a $0.64 annualized dividend and a dividend yield of 1.93%. Olympic Steel’s dividend payout ratio is presently 32.49%.

Institutional Investors Weigh In On Olympic Steel

Large investors have recently made changes to their positions in the company. New Age Alpha Advisors LLC bought a new stake in shares of Olympic Steel in the 4th quarter worth about $59,000. Point72 DIFC Ltd bought a new stake in Olympic Steel during the 3rd quarter worth about $184,000. HighTower Advisors LLC bought a new stake in Olympic Steel during the 3rd quarter worth about $202,000. Magnetar Financial LLC bought a new stake in Olympic Steel during the 4th quarter worth about $216,000. Finally, Los Angeles Capital Management LLC grew its holdings in Olympic Steel by 28.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 6,747 shares of the basic materials company’s stock worth $263,000 after acquiring an additional 1,500 shares during the last quarter. Institutional investors own 87.07% of the company’s stock.

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.