Olympic Steel (NASDAQ:ZEUS) Upgraded by StockNews.com to Buy

StockNews.com upgraded shares of Olympic Steel (NASDAQ:ZEUSGet Rating) from a hold rating to a buy rating in a research report report published on Tuesday morning.

Olympic Steel Price Performance

Shares of NASDAQ ZEUS opened at $25.89 on Tuesday. The company has a market capitalization of $288.10 million, a price-to-earnings ratio of 2.07 and a beta of 1.72. Olympic Steel has a 1-year low of $19.92 and a 1-year high of $43.18. The company has a debt-to-equity ratio of 0.58, a current ratio of 3.50 and a quick ratio of 1.41. The business has a 50-day moving average of $27.82 and a 200-day moving average of $31.14.

Olympic Steel Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Thursday, September 1st were given a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a dividend yield of 1.39%. The ex-dividend date was Wednesday, August 31st. Olympic Steel’s payout ratio is 2.88%.

Institutional Trading of Olympic Steel

Several large investors have recently added to or reduced their stakes in ZEUS. Quantbot Technologies LP boosted its stake in Olympic Steel by 42.1% during the 1st quarter. Quantbot Technologies LP now owns 1,137 shares of the basic materials company’s stock valued at $43,000 after purchasing an additional 337 shares in the last quarter. Ellevest Inc. boosted its position in shares of Olympic Steel by 86.9% in the first quarter. Ellevest Inc. now owns 1,080 shares of the basic materials company’s stock worth $42,000 after buying an additional 502 shares during the period. Janney Montgomery Scott LLC raised its holdings in shares of Olympic Steel by 2.7% during the second quarter. Janney Montgomery Scott LLC now owns 19,490 shares of the basic materials company’s stock worth $511,000 after acquiring an additional 510 shares in the last quarter. State of Tennessee Treasury Department raised its holdings in shares of Olympic Steel by 17.8% during the first quarter. State of Tennessee Treasury Department now owns 3,447 shares of the basic materials company’s stock worth $133,000 after acquiring an additional 522 shares in the last quarter. Finally, Zebra Capital Management LLC raised its holdings in shares of Olympic Steel by 5.7% during the first quarter. Zebra Capital Management LLC now owns 13,046 shares of the basic materials company’s stock worth $502,000 after acquiring an additional 698 shares in the last quarter. 78.53% of the stock is currently owned by institutional investors and hedge funds.

Olympic Steel Company Profile

(Get Rating)

Olympic Steel, Inc processes, distributes, and storage 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.

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