Olympic Steel (NASDAQ:ZEUS) Price Target Raised to $43.00

Olympic Steel (NASDAQ:ZEUS) had its price target raised by KeyCorp from $42.00 to $43.00 in a report released on Monday,Benzinga reports. They currently have an overweight rating on the basic materials company’s stock.

Separately, StockNews.com raised shares of Olympic Steel from a “hold” rating to a “buy” rating in a research report on Friday, February 21st.

Olympic Steel Trading Up 2.9 %

Shares of NASDAQ:ZEUS opened at $36.00 on Monday. The stock’s 50-day simple moving average is $34.16 and its two-hundred day simple moving average is $37.56. The stock has a market capitalization of $400.90 million, a price-to-earnings ratio of 18.27 and a beta of 1.52. Olympic Steel has a 52-week low of $30.29 and a 52-week high of $73.27. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.26 and a current ratio of 3.52.

Olympic Steel (NASDAQ:ZEUS) last issued its quarterly earnings data on Thursday, February 20th. The basic materials company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.05. The firm had revenue of $418.78 million for the quarter, compared to analysts’ expectations of $441.60 million. Olympic Steel had a net margin of 1.18% and a return on equity of 3.31%. Analysts expect that Olympic Steel will post 2.69 EPS for the current year.

Olympic Steel Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 17th. Stockholders of record on Monday, March 3rd will be given a dividend of $0.16 per share. This is a boost from Olympic Steel’s previous quarterly dividend of $0.15. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, March 3rd. Olympic Steel’s payout ratio is presently 32.49%.

Institutional Investors Weigh In On Olympic Steel

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ZEUS. American Century Companies Inc. increased its stake in Olympic Steel by 8.0% in the 4th quarter. American Century Companies Inc. now owns 330,113 shares of the basic materials company’s stock worth $10,831,000 after buying an additional 24,538 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Olympic Steel by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 233,615 shares of the basic materials company’s stock worth $7,667,000 after acquiring an additional 1,300 shares during the period. JPMorgan Chase & Co. grew its position in shares of Olympic Steel by 136.1% during the third quarter. JPMorgan Chase & Co. now owns 214,493 shares of the basic materials company’s stock worth $8,365,000 after purchasing an additional 123,632 shares in the last quarter. Jane Street Group LLC grew its position in shares of Olympic Steel by 1,165.8% during the third quarter. Jane Street Group LLC now owns 202,163 shares of the basic materials company’s stock worth $7,884,000 after purchasing an additional 186,192 shares in the last quarter. Finally, Bridgeway Capital Management LLC raised its stake in Olympic Steel by 1.6% during the 4th quarter. Bridgeway Capital Management LLC now owns 185,808 shares of the basic materials company’s stock valued at $6,096,000 after purchasing an additional 2,934 shares during the period. 87.07% of the stock is owned by hedge funds and other institutional investors.

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.