Olympic Steel (NASDAQ:ZEUS) Share Price Passes Above 200 Day Moving Average - Should You Sell?

Olympic Steel, Inc. (NASDAQ:ZEUS - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.46 and traded as high as $34.51. Olympic Steel shares last traded at $34.42, with a volume of 52,185 shares changing hands.

Wall Street Analyst Weigh In

Separately, KeyCorp dropped their price target on Olympic Steel from $43.00 to $41.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th.

Olympic Steel Trading Down 1.9%

The company has a quick ratio of 1.25, a current ratio of 3.16 and a debt-to-equity ratio of 0.41. The business has a fifty day moving average price of $32.08 and a 200-day moving average price of $32.49. The company has a market cap of $369.68 million, a P/E ratio of 23.16 and a beta of 1.66.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.21 EPS for the quarter, missing the consensus estimate of $0.24 by ($0.03). The firm had revenue of $492.94 million for the quarter, compared to analyst estimates of $466.80 million. Olympic Steel had a net margin of 0.88% and a return on equity of 2.16%. On average, analysts forecast that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Investors of record on Monday, June 2nd were paid a $0.16 dividend. The ex-dividend date was Monday, June 2nd. This represents a $0.64 annualized dividend and a dividend yield of 1.93%. Olympic Steel's dividend payout ratio is 44.76%.

Institutional Trading of Olympic Steel

Institutional investors have recently modified their holdings of the business. Proficio Capital Partners LLC bought a new stake in Olympic Steel during the fourth quarter valued at $493,000. Magnetar Financial LLC bought a new stake in Olympic Steel during the fourth quarter valued at $216,000. American Century Companies Inc. boosted its position in Olympic Steel by 8.0% during the fourth quarter. American Century Companies Inc. now owns 330,113 shares of the basic materials company's stock valued at $10,831,000 after acquiring an additional 24,538 shares during the last quarter. Sei Investments Co. boosted its position in Olympic Steel by 1.4% during the fourth quarter. Sei Investments Co. now owns 65,127 shares of the basic materials company's stock valued at $2,137,000 after acquiring an additional 919 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new stake in Olympic Steel during the fourth quarter valued at $548,000. Institutional investors own 87.07% of the company's stock.

About Olympic Steel

Olympic Steel, Inc processes, distributes, and stores metal products primarily in the United States, Canada, and Mexico. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The company offers stainless steel and aluminum coil and sheet products, angles, rounds, and flat bars; alloy, heat treated, and abrasion resistant coils, sheets and plates; coated metals, including galvanized, galvannealed, electro galvanized, advanced high strength steels, aluminized, and automotive grades of steel; commercial quality, advanced high strength steel, drawing steel, and automotive grades cold rolled steel coil and sheet products; hot rolled carbon comprising hot rolled coil, pickled and oiled sheet and plate steel products, automotive grades, advanced high strength steels, and high strength low alloys; tube, pipe, and bar products, including round, square, and rectangular mechanical and structural tubing; hydraulic and stainless tubing; boiler tubing; carbon, stainless, and aluminum pipes; valves and fittings; and tin mill products, such as electrolytic tinplate, electrolytic chromium coated steel, and black plates.