Olympic Steel Inc. (ZEUS) To Go Ex-Dividend on November 29th
Olympic Steel Inc. (NASDAQ:ZEUS) declared a quarterly dividend on Monday, November 7th. Shareholders of record on Thursday, December 1st will be given a dividend of 0.02 per share on Thursday, December 15th. This represents a $0.08 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Tuesday, November 29th.
Olympic Steel (NASDAQ:ZEUS) opened at 25.97 on Monday. Olympic Steel has a 1-year low of $7.98 and a 1-year high of $31.19. The firm’s 50-day moving average price is $22.26 and its 200-day moving average price is $23.56.
Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.39 by $0.55. The company had revenue of $268.30 million for the quarter, compared to analyst estimates of $293.40 million. Olympic Steel had a negative net margin of 0.38% and a negative return on equity of 1.28%. Olympic Steel’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.05) EPS. Analysts forecast that Olympic Steel will post $0.74 earnings per share for the current year.
A number of brokerages have recently weighed in on ZEUS. Jefferies Group restated a “hold” rating and issued a $18.00 target price on shares of Olympic Steel in a research note on Friday, November 4th. Macquarie downgraded Olympic Steel from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $30.00 to $20.00 in a research note on Tuesday, November 8th. Zacks Investment Research downgraded Olympic Steel from a “buy” rating to a “hold” rating in a research note on Wednesday, August 24th. Finally, KeyCorp downgraded Olympic Steel from a “sector weight” rating to an “underweight” rating and set a $21.00 target price on the stock. in a research note on Friday, August 19th. Two equities research analysts have rated the stock with a sell rating and three have given a hold rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.75.
A number of institutional investors have recently bought and sold shares of the stock. BlackRock Advisors LLC increased its position in Olympic Steel by 12.5% in the second quarter. BlackRock Advisors LLC now owns 4,416 shares of the company’s stock valued at $121,000 after buying an additional 490 shares during the last quarter. BlackRock Group LTD increased its position in Olympic Steel by 12.6% in the second quarter. BlackRock Group LTD now owns 5,810 shares of the company’s stock valued at $159,000 after buying an additional 650 shares during the last quarter. The Manufacturers Life Insurance Company purchased a new position in Olympic Steel during the third quarter valued at approximately $151,000. BlackRock Inc. increased its position in Olympic Steel by 2,279.6% in the second quarter. BlackRock Inc. now owns 8,852 shares of the company’s stock valued at $242,000 after buying an additional 8,480 shares during the last quarter. Finally, Comerica Bank purchased a new position in Olympic Steel during the second quarter valued at approximately $228,000. Institutional investors and hedge funds own 71.56% of the company’s stock.
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Olympic Steel Company Profile
Olympic Steel, Inc is a metals service center. The Company provides metals processing and distribution services for a range of customers. The Company operates through three segments: carbon flat products, specialty metals flat products, and tubular and pipe products. The Company’s carbon flat products segment’s focus is on the direct sale and distribution of large volumes of processed carbon and coated flat-rolled sheet, coil and plate products and fabricated parts.
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