Olympic Steel, Inc. (NASDAQ:ZEUS – Get Rating) – Stock analysts at KeyCorp increased their FY2022 EPS estimates for Olympic Steel in a research report issued on Monday, November 21st. KeyCorp analyst P. Gibbs now expects that the basic materials company will earn $7.60 per share for the year, up from their previous estimate of $7.16. The consensus estimate for Olympic Steel’s current full-year earnings is $7.45 per share. KeyCorp also issued estimates for Olympic Steel’s Q4 2022 earnings at $0.20 EPS and FY2023 earnings at $1.95 EPS.
Separately, StockNews.com upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating in a report on Monday, November 14th.
Olympic Steel Stock Performance
Hedge Funds Weigh In On Olympic Steel
Several hedge funds and other institutional investors have recently bought and sold shares of ZEUS. Comerica Bank acquired a new position in Olympic Steel in the 1st quarter worth approximately $343,000. Commonwealth Equity Services LLC acquired a new position in Olympic Steel in the 1st quarter worth approximately $297,000. Janney Montgomery Scott LLC boosted its position in Olympic Steel by 16.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 18,980 shares of the basic materials company’s stock worth $730,000 after purchasing an additional 2,642 shares in the last quarter. New York State Common Retirement Fund boosted its position in Olympic Steel by 244.6% in the 1st quarter. New York State Common Retirement Fund now owns 26,121 shares of the basic materials company’s stock worth $1,005,000 after purchasing an additional 18,541 shares in the last quarter. Finally, Royce & Associates LP boosted its position in Olympic Steel by 1.4% in the 1st quarter. Royce & Associates LP now owns 308,190 shares of the basic materials company’s stock worth $11,853,000 after purchasing an additional 4,200 shares in the last quarter. Institutional investors and hedge funds own 78.53% of the company’s stock.
Olympic Steel Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Thursday, December 1st will be issued a $0.09 dividend. The ex-dividend date of this dividend is Wednesday, November 30th. This represents a $0.36 annualized dividend and a yield of 0.95%. Olympic Steel’s dividend payout ratio (DPR) is presently 3.72%.
About Olympic Steel
Olympic Steel, Inc engages in the processing, sale, and distribution of metal products. It operates through the following segments: Carbon Flat Products, Specialty Metals Flat Products, and Tubular and Pipe Products. The Carbon Flat Products segment includes large volumes of processed carbon and coated flat-rolled sheet, coil and plate products, and fabricated parts.
- Get a free copy of the StockNews.com research report on Olympic Steel (ZEUS)
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