Insider Buying: Olympic Steel, Inc. (ZEUS) Director Buys $233,700.00 in Stock
Olympic Steel, Inc. (NASDAQ:ZEUS) Director Arthur F. Anton acquired 10,000 shares of the company’s stock in a transaction on Monday, August 6th. The stock was acquired at an average cost of $23.37 per share, with a total value of $233,700.00. Following the completion of the purchase, the director now directly owns 28,778 shares in the company, valued at $672,541.86. The purchase was disclosed in a filing with the SEC, which is available at this link.
Shares of Olympic Steel opened at $22.66 on Friday, MarketBeat reports. Olympic Steel, Inc. has a 52 week low of $16.58 and a 52 week high of $25.84. The firm has a market capitalization of $257.49 million, a price-to-earnings ratio of 9.95, a price-to-earnings-growth ratio of 1.05 and a beta of 1.75. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.67 and a quick ratio of 1.37.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, August 2nd. The basic materials company reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. Olympic Steel had a net margin of 2.04% and a return on equity of 9.63%. The business had revenue of $453.00 million during the quarter, compared to analysts’ expectations of $445.00 million. During the same period last year, the company posted $0.42 EPS. The business’s revenue was up 27.2% on a year-over-year basis. research analysts expect that Olympic Steel, Inc. will post 2.98 EPS for the current fiscal year.
Several institutional investors have recently added to or reduced their stakes in ZEUS. SG Americas Securities LLC bought a new stake in shares of Olympic Steel in the 1st quarter worth about $109,000. Sun Life Financial INC bought a new stake in shares of Olympic Steel in the 2nd quarter worth about $171,000. Engineers Gate Manager LP bought a new stake in shares of Olympic Steel in the 1st quarter worth about $399,000. Algert Global LLC lifted its holdings in shares of Olympic Steel by 42.5% in the 1st quarter. Algert Global LLC now owns 19,830 shares of the basic materials company’s stock worth $407,000 after acquiring an additional 5,910 shares during the last quarter. Finally, New York State Common Retirement Fund lifted its holdings in shares of Olympic Steel by 96.3% in the 1st quarter. New York State Common Retirement Fund now owns 21,197 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 10,397 shares during the last quarter. Hedge funds and other institutional investors own 65.78% of the company’s stock.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
Further Reading: Average Daily Trade Volume – ADTV
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