Richard T. Marabito Buys 2,000 Shares of Olympic Steel, Inc. (ZEUS) Stock
Olympic Steel, Inc. (NASDAQ:ZEUS) CFO Richard T. Marabito acquired 2,000 shares of the firm’s stock in a transaction dated Friday, August 11th. The stock was bought at an average price of $17.42 per share, with a total value of $34,840.00. Following the completion of the acquisition, the chief financial officer now directly owns 30,614 shares of the company’s stock, valued at $533,295.88. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Olympic Steel, Inc. (ZEUS) traded down 1.11% during mid-day trading on Tuesday, reaching $16.95. 101,229 shares of the company traded hands. The firm has a market cap of $185.89 million, a PE ratio of 22.27 and a beta of 1.73. Olympic Steel, Inc. has a one year low of $15.83 and a one year high of $28.67. The stock’s 50-day moving average price is $18.25 and its 200-day moving average price is $19.50.
Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings results on Thursday, August 3rd. The basic materials company reported $0.47 EPS for the quarter, topping the consensus estimate of $0.41 by $0.06. Olympic Steel had a net margin of 0.71% and a return on equity of 2.82%. The company had revenue of $356.20 million during the quarter, compared to analysts’ expectations of $365 million. During the same quarter in the previous year, the company earned $0.32 EPS. Analysts forecast that Olympic Steel, Inc. will post $1.22 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Friday, September 1st will be given a dividend of $0.02 per share. This represents a $0.08 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, August 30th. Olympic Steel’s dividend payout ratio is 10.67%.
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ZEUS has been the subject of several recent analyst reports. Zacks Investment Research upgraded shares of Olympic Steel from a “hold” rating to a “buy” rating and set a $25.00 price objective for the company in a report on Tuesday, May 2nd. Jefferies Group LLC reissued a “hold” rating on shares of Olympic Steel in a research note on Friday, July 7th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.00.
Several large investors have recently modified their holdings of ZEUS. Hennessy Advisors Inc. acquired a new stake in shares of Olympic Steel during the first quarter valued at approximately $2,923,000. Marshall Wace North America L.P. acquired a new stake in shares of Olympic Steel during the second quarter valued at approximately $1,961,000. Scopus Asset Management L.P. acquired a new stake in shares of Olympic Steel during the first quarter valued at approximately $1,912,000. GSA Capital Partners LLP acquired a new stake in shares of Olympic Steel during the second quarter valued at approximately $1,630,000. Finally, Prudential Financial Inc. boosted its stake in shares of Olympic Steel by 206.5% in the second quarter. Prudential Financial Inc. now owns 99,870 shares of the basic materials company’s stock valued at $1,946,000 after buying an additional 67,281 shares in the last quarter. Institutional investors own 71.28% of the company’s stock.
About Olympic Steel
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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