Olympic Steel (NASDAQ:ZEUS) Stock Passes Above 200-Day Moving Average - Here's What Happened

Shares of Olympic Steel, Inc. (NASDAQ:ZEUS - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $32.51 and traded as high as $33.16. Olympic Steel shares last traded at $32.59, with a volume of 101,528 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, KeyCorp cut their price objective 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 Up 1.2%

The firm has a market cap of $388.48 million, a price-to-earnings ratio of 24.34 and a beta of 1.66. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.16 and a quick ratio of 1.25. The firm's fifty day moving average is $31.77 and its 200-day moving average is $32.47.

Olympic Steel (NASDAQ:ZEUS - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The basic materials company reported $0.21 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.24 by ($0.03). The business had revenue of $492.94 million during 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%. Equities analysts anticipate that Olympic Steel, Inc. will post 2.69 earnings per share for the current year.

Olympic Steel Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Stockholders of record on Monday, June 2nd were paid a $0.16 dividend. This represents a $0.64 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend was Monday, June 2nd. Olympic Steel's dividend payout ratio (DPR) is presently 44.76%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Versant Capital Management Inc raised its position in Olympic Steel by 178.7% in the 1st quarter. Versant Capital Management Inc now owns 914 shares of the basic materials company's stock valued at $29,000 after buying an additional 586 shares during the last quarter. New Age Alpha Advisors LLC purchased a new stake in shares of Olympic Steel in the fourth quarter valued at about $59,000. CWM LLC raised its holdings in shares of Olympic Steel by 170.5% in the first quarter. CWM LLC now owns 2,462 shares of the basic materials company's stock valued at $78,000 after purchasing an additional 1,552 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of Olympic Steel by 20.1% during the first quarter. Quantbot Technologies LP now owns 4,954 shares of the basic materials company's stock valued at $156,000 after purchasing an additional 830 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in Olympic Steel during the first quarter worth about $179,000. Hedge funds and other institutional investors own 87.07% of the company's stock.

Olympic Steel Company Profile

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.