Olympic Steel (NASDAQ:ZEUS) posted its quarterly earnings results on Thursday. The basic materials company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.13 by $0.03, Morningstar.com reports. The business had revenue of $429.15 million during the quarter, compared to analysts’ expectations of $412.40 million. Olympic Steel had a net margin of 1.58% and a return on equity of 11.24%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period last year, the company posted $1.49 earnings per share.
ZEUS stock opened at $12.05 on Friday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.69 and a current ratio of 4.34. The firm has a market capitalization of $138.44 million, a PE ratio of 3.43 and a beta of 2.13. The stock’s 50 day moving average is $12.64. Olympic Steel has a 52 week low of $11.50 and a 52 week high of $24.23.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA boosted its holdings in shares of Olympic Steel by 356.9% during the first quarter. BNP Paribas Arbitrage SA now owns 1,951 shares of the basic materials company’s stock worth $31,000 after purchasing an additional 1,524 shares during the period. WINTON GROUP Ltd lifted its stake in Olympic Steel by 25.8% in the second quarter. WINTON GROUP Ltd now owns 50,311 shares of the basic materials company’s stock valued at $687,000 after acquiring an additional 10,309 shares during the last quarter. BlackRock Inc. lifted its stake in Olympic Steel by 6.1% in the fourth quarter. BlackRock Inc. now owns 1,572,866 shares of the basic materials company’s stock valued at $22,445,000 after acquiring an additional 89,864 shares during the last quarter. Geode Capital Management LLC lifted its stake in Olympic Steel by 2.9% in the fourth quarter. Geode Capital Management LLC now owns 98,973 shares of the basic materials company’s stock valued at $1,412,000 after acquiring an additional 2,814 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Olympic Steel by 142.5% in the fourth quarter. Public Employees Retirement System of Ohio now owns 30,331 shares of the basic materials company’s stock valued at $433,000 after acquiring an additional 17,825 shares during the last quarter. Institutional investors and hedge funds own 65.70% of the company’s stock.
About Olympic Steel
Olympic Steel, Inc processes and distributes metal products in the United States and internationally. It operates in three segments: Carbon Flat Products; Specialty Metals Flat Products; and Tubular and Pipe Products. The Carbon Flat Products segment sells and distributes processed carbon and coated flat-rolled sheets, coil and plate products, and fabricated parts.
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