Olympic Steel, Inc. (NASDAQ:ZEUS) – Equities researchers at Jefferies Group upped their FY2018 EPS estimates for Olympic Steel in a research note issued on Tuesday. Jefferies Group analyst S. Rosenfeld now forecasts that the basic materials company will earn $2.04 per share for the year, up from their previous estimate of $1.58.

Olympic Steel (NASDAQ:ZEUS) last released its quarterly earnings data on Wednesday, November 8th. The basic materials company reported $0.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.15 by $0.05. Olympic Steel had a net margin of 0.99% and a return on equity of 4.32%. The business had revenue of $331.44 million during the quarter, compared to analyst estimates of $323.05 million. During the same quarter last year, the business earned ($0.16) earnings per share. Olympic Steel’s quarterly revenue was up 23.5% compared to the same quarter last year.

Several other equities analysts have also commented on ZEUS. Zacks Investment Research upgraded shares of Olympic Steel from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. KeyCorp restated a “hold” rating on shares of Olympic Steel in a report on Tuesday, September 19th.

Olympic Steel (ZEUS) traded up $0.16 during mid-day trading on Thursday, reaching $22.25. 59,600 shares of the company’s stock traded hands, compared to its average volume of 93,829. Olympic Steel has a fifty-two week low of $15.83 and a fifty-two week high of $27.93. The company has a quick ratio of 1.54, a current ratio of 4.23 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $244.12, a price-to-earnings ratio of 20.05, a P/E/G ratio of 2.00 and a beta of 1.79.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Friday, December 1st were issued a $0.02 dividend. The ex-dividend date was Thursday, November 30th. This represents a $0.08 annualized dividend and a dividend yield of 0.36%. Olympic Steel’s dividend payout ratio (DPR) is presently 7.21%.

Institutional investors have recently added to or reduced their stakes in the company. GSA Capital Partners LLP increased its stake in Olympic Steel by 35.4% in the 3rd quarter. GSA Capital Partners LLP now owns 113,300 shares of the basic materials company’s stock worth $2,493,000 after buying an additional 29,600 shares during the period. Algert Global LLC purchased a new position in Olympic Steel in the 3rd quarter worth about $261,000. California Public Employees Retirement System increased its stake in Olympic Steel by 24.1% in the 3rd quarter. California Public Employees Retirement System now owns 68,900 shares of the basic materials company’s stock worth $1,516,000 after buying an additional 13,400 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Olympic Steel by 74.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 68,512 shares of the basic materials company’s stock worth $1,508,000 after buying an additional 29,316 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Olympic Steel by 474.4% in the 3rd quarter. Wells Fargo & Company MN now owns 113,982 shares of the basic materials company’s stock worth $2,508,000 after buying an additional 94,137 shares during the period. Hedge funds and other institutional investors own 67.91% of the company’s stock.

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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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