Andrew Greiff Sells 4,500 Shares of Olympic Steel (NASDAQ:ZEUS) Stock

Olympic Steel, Inc. (NASDAQ:ZEUS) COO Andrew Greiff sold 4,500 shares of the stock in a transaction on Monday, December 8th. The stock was sold at an average price of $40.42, for a total value of $181,890.00. Following the completion of the sale, the chief operating officer owned 12,018 shares in the company, valued at $485,767.56. This trade represents a 27.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Olympic Steel Price Performance

Shares of ZEUS traded down $0.63 during trading hours on Wednesday, reaching $42.78. 33,343 shares of the company’s stock traded hands, compared to its average volume of 92,344. The stock has a market cap of $479.14 million, a PE ratio of 36.56 and a beta of 1.71. The company has a current ratio of 3.12, a quick ratio of 1.17 and a debt-to-equity ratio of 0.42. The firm’s 50 day simple moving average is $37.81 and its 200-day simple moving average is $34.05. Olympic Steel, Inc. has a 12 month low of $26.32 and a 12 month high of $45.40.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings results on Tuesday, October 28th. The basic materials company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.06). The company had revenue of $490.66 million during the quarter, compared to analysts’ expectations of $476.20 million. Olympic Steel had a return on equity of 2.11% and a net margin of 0.73%. Equities analysts expect that Olympic Steel, Inc. will post 2.69 EPS for the current year.

Olympic Steel Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, December 15th. Investors of record on Monday, December 1st were paid a $0.16 dividend. This represents a $0.64 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend was Monday, December 1st. Olympic Steel’s dividend payout ratio is currently 54.70%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (d+)” rating on shares of Olympic Steel in a research report on Monday. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $38.00.

Hedge Funds Weigh In On Olympic Steel

A number of large investors have recently bought and sold shares of ZEUS. Invenomic Capital Management LP bought a new stake in Olympic Steel during the 3rd quarter valued at $6,191,000. CSM Advisors LLC purchased a new position in shares of Olympic Steel in the second quarter valued at about $5,964,000. JPMorgan Chase & Co. increased its position in shares of Olympic Steel by 94.5% in the second quarter. JPMorgan Chase & Co. now owns 154,973 shares of the basic materials company’s stock valued at $5,051,000 after acquiring an additional 75,296 shares during the period. AQR Capital Management LLC raised its stake in shares of Olympic Steel by 47.4% during the second quarter. AQR Capital Management LLC now owns 212,365 shares of the basic materials company’s stock valued at $6,921,000 after acquiring an additional 68,316 shares during the last quarter. Finally, Profit Investment Management LLC purchased a new stake in shares of Olympic Steel during the second quarter worth about $1,552,000. 87.07% of the stock is owned by hedge funds and other institutional investors.

Olympic Steel Company Profile

Olympic Steel, Inc is a leading metals service center headquartered in Cleveland, Ohio, specializing in the distribution of carbon, stainless, aluminum and alloy sheet, plate, bar, tubing, and piping products. The company offers a broad range of metals in various grades, sizes and dimensions, serving customers across a variety of industries. Olympic Steel operates as a one?stop source for metals procurement, providing both standard inventory offerings and custom?cut pieces to meet specific customer requirements.

Through its network of service centers in the United States and Mexico, Olympic Steel provides a suite of value?added processing services, including precision laser and plasma cutting, shearing, slitting, shearing, forming, plate burning, leveling and robotic welding.